members’ meeting 23 rd april 2014. victoria mackay-parkin chair, fincan
TRANSCRIPT
Members’Meeting
23rd April 2014
Victoria Mackay-Parkin
Chair,
Fincan
Agenda
10.00am Welcome and introductions followed by a Fincan Update
10.10 Know Your Money Update – Susan Borrow
10.40 Darlington Credit Union – Tony Brockley
11.00 Comfort Break
11:10 Workshop – Developing Future Themes
11:40 Axa Sun Alliance – Cost of Dying Presentation
12:25 Project Planning Workshop – Part One
12.40 Grab lunch
12:55 Project Planning Workshop – Part Two and Working Lunch
13:30 Close
Know Your Money
Susan Borrow andNathan James
Tony Brockley, CEO
The past:
• 2008 Merger of four small Darlington Credit Unions agreed• Alan Coultas, local businessman & Councillor drafted in to oversee• Darlington Borough Council awards £25,000 to support initiative• Treasury support: DBC staff member • Funding application support: DBC staff member• 2009 with use of DBC funding first paid member of staff employed• Financial Inclusion Forum• In 2009 DCU’s KPI’s were as follows:-
• Members: 616• Savings: £130,459• Loans: £65,692• Earned Income: £2579
The present:
• Payroll Deduction• Financial support:-
• Strategic Grant• Corporate Membership
• Deferred Shares• Quarterly Business & Finance Meetings:-
• Ada Burns & Bill Dixon• Ideas exchange: Bill’s Foodbank account + £1300
• DBC support in “opening doors”: NHS• DBC Housing & DCU & MoneyWorks: collaboration• Councillor Newsletters• Darlington Together
In 2014, DCU’s KPI’s are as follows:
• Members: 3945• Savings: £892,292• Loans: £721,235• Earned Income (for Q1 2014): £32,380• Projected 2014 Earned Income of £169,000
The future KPI’s:
• Members: 10,500• Earned Income: £468,500• A sustainable Credit Union• By 2018 latest
The challenge:
• To achieve these figures we need even more support • Currently c.0.5% of DBC employees are DCU members• Borough wide c. 3.6% of the population are DCU members• Challenge 1: Increase number of employees to engage with DCU• Currently we have 10 Corporate Accounts worth in excess of £80,000• Challenge 2: Assist in supporting our Corporate Membership Strategy• Currently we have 3 payroll schemes which are essential• Challenge 3: Assist in “championing” these schemes with local businesses • Elected members of the council – how many are DCU members?• ANEC members & others here today – how many of you are CU members?• Challenge 4: Why not? We need “champions” who support their local CU by
action as well as words.
Bishop of Jarrow's plan to get 1000 more people using credit unions
What can your credit union offer?• Savings accounts with instant access• Affordable loans• Budget accounts•Co-operative electrical scheme• Free budget planning service• Free financial health checks• And much more to come with the CUEP 2014-2015
What can Housing Providers offer?• To raise awareness of the credit union through its staff and clients•To establish a payroll deduction scheme for staff• To advertise the DCU with the rent statements• To advertise DCU with the Annual Reviews• To establish an outreach office at Housing Providers’ premises• To advertise credit union on periodic tenancy visits
Any Questions?
Workshop
Developing Future Themes
Break
Axa Sun Alliance
Mark Woodhead
Workshop
Project Planning
Close