Dividend
Dividend for 2010/11 has now been posted into all qualifying accounts.
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Annual Membership Fee
The annual membership fee of £2.50 was deducted from all adult accounts on the 30th September 2011.
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EKCU Hosts Event for Overseas Visitors
EK Credit Union recently welcomed credit union colleagues from as far a field as Colombia, Kenya, Botswana, Canada, Ghana, Russia and the Cayman Islands to share their knowledge and understanding of credit unions all over the world. Each year the World Council of Credit Unions (WOCCU) hosts an annual general meeting and conference in a different country, this year the chosen venue was Glasgow’s SECC with 1700 delegates attending from over 60 different countries around the world. As part of the conference, local credit unions are invited to host an event and 19 credit union colleagues attended the event hosted by EK credit union. After introductions they were invited for a tour of our office by directors, staff and volunteers before travelling to Gracie’s Café at the Loch, where Pipe Major Roddy Shanks was on hand to entertain the guests with a few Scottish tunes. Chairperson of EK Credit Union, Stephen Sherriff said, ‘It was an honour and a pleasure to welcome our guests. Every delegate mentioned how friendly and welcoming the staff and volunteers were and I know we all learned a great deal from the visit. We had a great time and I would like to thank everyone who made the even a success.’ Corrinne Glasgow, the chief executive officer for the Cayman Islands Civil Service Credit Union added, ‘It is good to know that wherever you go, you are never far from the worldwide credit union family that works so hard towards giving people a better chance in life. I would like to thank our hosts at East Kilbride for such a wonderful evening.’
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Visit to EK Dementia Carers Group
Our manager, John Lange, recently visited EK Dementia Carers Group where he gave a brief introduction to the Credit Union and encouraged attendees to join one of the fastest growing financial sectors in the UK. John was able to answer questions on a wide range of issues regarding credit unions including savings, loans and insurance. If your group would benefit from a talk from the credit union, don’t hesitate to contact us on 01355 224771.
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East Kilbride Credit Union raises money for Kilbryde Hospice
In the past, the treasurer of the credit union was granted an honorarium for their work over the year but due to computerisation this work has significantly decreased. At the AGM in 2008 the membership approved a Board proposal to donate this payment to a local charity and The Treasurer’s Gift was born. This year the board agreed on the Kilbryde Hospice as their charity of choice and Donna Hegarty, fundraising manager for the hospice, kindly stopped by to collect our donation from manager John Lange and Vice-chairman Councillor Archie Buchanan. Last year the treasurer’s gift was donated to Leukaemia Research Scotland in memory of Max Taylor, the grandson of our secretary Moira Gordon.
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SLC Payroll Change
As you will be aware South Lanarkshire Council is altering the way they pay their employees from a fortnightly to a four weekly basis. We would like to inform all employees of South Lanarkshire Council, that this change over has now taken place and we have received your first four weekly deduction. All members that pay by payroll deduction should have now received a confirmation letter from us regarding this change over. If you are unsure of how the change over will affect your credit union account or have any queries, please do not hesitate to contact a member of staff on 01355 224771.
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Share Withdrawals Now Available Online
East Kilbride Credit Union Ltd is pleased to announce that member’s can now arrange share withdrawals online. Member’s who have a PIN and can log in to their account online, can complete a share withdrawal request form. Once staff have authorised the request it will be paid into the members bank account via BACS. Please visit the share withdrawal page in the ‘member’s area’ for more information.
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Support from Local MP, Michael McCann
Local MP Michael McCann has given East Kilbride Credit Union his wholehearted backing and has urged constituents across East Kilbride and Strathaven to support the local, community-based financial organisation where members save together and have access to affordable credit. And the MP followed up his words with actions this week by opening his own account at the credit union’s headquarters in the Village, East Kilbride. Michael said, “The banking crisis was a real body blow to the nation’s economy, but if you analyse the banking sector it was the cooperative-based models, like credit unions, that weathered the storm best and have emerged from the crisis intact. “The credit union is owned and controlled by its members but it also benefits from strong support from the Association of British Credit Unions Limited (ABCUL) and is regulated by the Financial Services Authority. “I suppose, like many people, I have always wanted to join the credit union but never got around to it. I have changed that this week by opening my own account and I hope many others follow in my footsteps. “Its worth remembering that credit union membership is open to anyone who lives in East Kilbride and Strathaven. Other local credit unions are available across the constituency.” John Lange, the general manager of the EK credit union, and board members, briefed the new local MP on forthcoming proposals to change regulations governing credit unions and are now seeking Michael’s support for their continued success. John said, “We are delighted Michael is involved with our work and that he has confirmed he can advocate for our industry’s needs in parliament. We look forward to a long and fruitful relationship.”
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New Reduced Interest Rate on Secure Loans
East Kilbride Credit Union Ltd is pleased to announce it is now offering a new reduced interest rate on all secure loans to its members. All secure loans will now be charged at a very attractive 6% APR. If you were considering withdrawing your savings, why not take out a secured loan instead at our new lower rate. You can borrow the sum you require at a low cost, your savings remain intact and your free life insurance with the credit union will not be affected.
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Debit Card Payments Now Accepted!
East Kilbride Credit Union Ltd can now accept payments to your credit union account by debit or credit card. You can make payments to your account using your card by phoning or calling into the office and speaking to a member of staff. Please note that there is a minimum deposit of £10.00 on all debit or credit card payments.
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FSCS Compensation Arrangements
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a credit union is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme. In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the credit union, including their share of any joint account, and not to each separate account. For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website http://www.fscs.org.uk/ or call 0800 678 1100.
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SoLVE Quality Award
East Kilbride Credit Union recently won the SoLVE Quality Award for 2009. This is in recognition of the excellent policies and practices that we adopt in recruiting and retaining volunteers including induction, training, ongoing support, expenses policy and equal opportunities. If you are keen to help us out as a volunteer and have some free time please do not hesitate to contact us on info@ekcreditunion.co.uk
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Pay Point
East Kilbride Credit Union now has a Pay Point service up and running. All members should have received their new Pay Point card by post and can start depositing into their credit union account straight away. If you would like more details or have not received your card, please contact the office for futher information.
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Returned Cheques
Members who pay by cheque will be subject to a charge of £7.50 for any cheques that are returned from the bank unpaid.
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Is your Next of Kin up to date?
Some of you have now been members for several years. During that time your circumstances may have changed, e.g. you may have moved house or married or divorced. Next of Kin details are very important. All members shares are insured by the Credit Union at no extra cost to you. It is therefore very important that you keep your beneficiary information current to ensure that insurance payments are made promptly and according to your wishes. If you need to change or amend your beneficiary information for any reason Please come in to one of our offices and ask for a change of details form. WITHDRAWALS MAY AFFECT THE AMOUNT PAYABLE AS WITH ALL INSURANCE POLICIES TERMS AND CONDITIONS MAY APPLY Authorised and Regulated by the Financial Services Authority reg. No. 213849
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