Monday 20th Apr, 2020

An update for members

COVID-19 : An update for members

On behalf of all of us who work or volunteer on behalf of all members I want to start by expressing our best wishes to all who are living with all of the restrictions at this time, to all whose health or age may be keeping them isolated, and especially to all who are delivering 'front-line' services for us all - stay safe.

Office Operations

Thanks to all of you who have supported us by communicating using email, phone app and online access. This has allowed us to 'settle in' to a new way of working remotely.

I'm pleased to say

  • All withdrawal requests have been processed by the next working day at latest.
  • All loan requests are being reviewed next working day and then processed as normal.
  • New members continue to join us.

Let's keep it up!

Financial Impact of COVID-19

By keeping our office operating we are able to minimise financial impact on your Credit Union. But we have taken steps to obtain additional funding by way of grants and long-term loans so that, if there is an ongoing disruption, we are well placed to see this through.

Your Savings are Secure

A reminder that all members' savings are fully secured by FSCS (click here for details). In the highly unlikely event of closure all savings would be paid out in full, usually within one week.

Loan repayments

We are aware that some members will have seen a reduction in income during the present lockdown. The Directors have agreed we should support genuine cases of difficulty arising directly from COVID-19. If you wish to discuss your loan you will need documented evidence of reduced income and then book a telephone interview with the office. If you have already missed one or two loan repayments we should be able to help. We will do what we reasonably can, but ultimately loans must be repaid in full.

A Credit Union is a collective of members who pool their savings so that other members can borrow when needed. During this crisis we have all seen great examples of what can be achieved when we all work together: by sticking together as a Credit Union we will be strong and will still be here when this crisis ends. So, please, keep saving regularly and repay loans when due - that way we really are 'business as usual'.

Stay home, protect our NHS, stay safe.

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