News and Offers!
16th October 2009
The new merged, stronger, Credit Union should be operational during November - and we are looking forward to contacting all our members with details of the changes we will be making in the near future. The good news is that the Board of Directors has grown and is more committed than ever and we are starting to attract the sort of funding we need to expand and ensure our survival.
In the current economic climate - Credit Unions are becoming a more recongnised alternative to doorstep lenders, loan sharks - and even High Street banks. Please have a look at what the press are saying about Credit Unions accross the UK (all links provided by ABCUL, our trade association)...
There was a fantastic editorial in The Times calling on government to better support credit unions in the light of the new Local Government Network’s report last week: http://www.timesonline.co.uk/tol/money/consumer_affairs/article6389963.ece.
Column in the Independent suggests support for starting-up credit unions as a means of improving credit flows in the economy; of particular relevance given Treasury’s commitment to stimulate diversity in financial services and encourage the development of mutuals in its recent Financial Services White Paper: http://www.independent.co.uk/news/business/comment/margareta-pagano/margareta-pagano-to-nationalise-or-not-ndash-thats-a-tricky-question-1776024.html
Credit unions have consistently featured in the considerable weight of topical loan shark articles following the high-profile conviction of an illegal lender in Greater Manchester recently. CUs are put forward as an alternative source of credit: http://www.timesonline.co.uk/tol/news/uk/crime/article6740272.ece
http://www.thisislancashire.co.uk/news/4553618.Lancs_loan_sharks_warned/.
The Mirror ran a story last Saturday about the value credit union loans can offer in the expensive back-to-school period. This followed a press release we released with Ethos: http://www.mirror.co.uk/news/city-news/2009/08/29/credit-unions-give-parents-loan-hope-115875-21633483/
Old News
26th July 2009
We are pleased to announce that the potential merger with LincUp is progressing well and both boards are now working to create a single Credit Union for the Lincolnshire region. We have recently had FSA approval to go ahead with the merger and are now waiting on the LincUp membership voting as to whether to support the merger.
Legally, one Credit Union must be taken on by the other - although both boards consider this to be a joining of equals. For simplicity, as Lincolnshire already has capacity based lending and an easier upgrade path for our computer accounting systems - LincUp will be taken over by Lincolnshire. The exact details are still being discussed, but it is almost certain that Lincolnshire will use the trading name of LincUp for all marketing activities. The products of both Credit Unions will remain - which will offer better services for members of both Credit Unions.
The LincUp Members votes will take place on 12th August and 1st September.
New! We have uploaded a new guide for anyone wishing to take out a loan with us. This gives some basic steps to ensure that you give yourself the best chance of being accepted for a loan following some recent experience. We will always approve loans where we can, and this guide will demonstrate what we are looking for in a good application. To read the guide click here.
We think that this video shows just what Credit Unions can do...
16 March 2009
It's been noted that our Newsletter managed to omit where our AGM would be held this year! The AGM will take place on 17th March 2009 at our offices at 18 High Street, Lincoln from 7pm. See you there!
LincUp, who provide Credit Union services to the Lincoln city area, and also local housing associations, will be holding their AGM on the 27th March. As part of this meeting, they will be asking their members to vote whether they wish to amalgamate their Credit Union with the Lincolnshire Credit Union.
Relations between both Credit Unions have always been positive, and we have strengthened our co-operation through both Credit Unions being represented as part of the East Midlands Chapter of ABCUL (our trade association) and The Federation of Lincolnshire Credit Unions.
The boards of the two Credit Unions are yet to discuss the details of how and when we would plan to merge (and the members of both Credit Unions would need to vote to say that they are happy to merge), however the LCU Board are very positive regarding this possibility.
08 February 2009
We are proud to announce the publication of our new Spring 2009 Newsletter, which details the AGM to take place on the 17th March.
The newsletter will be sent to all adult members during February, but you can take a look at our (low quality) online version by clicking the image below:-
27 December 2008
The 2009 Christmas Club is being launched. Non-members will not have to pay a Credit Union joining fee during January as an incentive to join.
Saving small amounts often can grow to create a pot of money at Christmas without the need to use expensive catalogues, taking out loans, or paying off debts long after Christmas has gone. Download an Application Form or Call Us for more information.
