1 / 6

Affordable Personal Credit

Affordable Personal Credit. Irene Smith Nottingham Credit Union irene@nottinghamcu.co.uk. About Nottingham Credit Union. Community Credit Union 6000 Adult members & 1000 Juniors Countywide common bond + 2 Housing Associations £1.5 million in shares £1.4 million in loans

arissa
Download Presentation

Affordable Personal Credit

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Affordable Personal Credit Irene Smith Nottingham Credit Union irene@nottinghamcu.co.uk

  2. About Nottingham Credit Union • Community Credit Union • 6000 Adult members & 1000 Juniors • Countywide common bond + 2 Housing Associations • £1.5 million in shares • £1.4 million in loans • Primarily Growth Fund business • 500 payroll members • 3 Shops

  3. Why Work with Co-op Electrical? • To offer our members a viable alternative to BrightHouse, Perfect Homes and other high cost ways of buying goods. • To put more money back in our local economies. • Part of an education process that there are alternatives for people who can’t get mainstream credit • As an income stream – other members buying goods through your website • Local Authorities, Housing Providers and other partners are interested in the scheme, particular product bundles • The Co-op is a natural fit for credit unions

  4. The Credit Union Perspective Opportunities • Partnership working • Save money for members • Another marketing tool • Income from commission Threats • Category A Licence required • Additional paperwork required • Ordering the goods for the member takes time and often they order goods no longer available

  5. How to deal with the Threats • ABCUL have provided a good set of guidance notes • Category A Licence is simple to apply for on line but there can be issues of not understanding credit unions • The paperwork is lengthy and not customer friendly – it might not be so onerous if we can get in integrated into our software. • Ordering – we would like to look at improving the efficiency on ordering

  6. What are our plans • Work out a way to make the paperwork simpler • Try to get some life size publicity for our shops • Training for our staff and volunteers • Encourage our ethical members to look at Co-op Electrical through our website • Promote the bundles and service generally through Housing Providers

More Related