‘Live or work’ Event Pdfs... · Staff Instant loans Yes Yes Yes Staff training Free £2,000...
Transcript of ‘Live or work’ Event Pdfs... · Staff Instant loans Yes Yes Yes Staff training Free £2,000...
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‘Live or work’ – Over 800,000 people
+ Any tenant of a RSL in Scotland
8,156 adult members
1750 junior depositors
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1. A different type of partner?
1. Mutual?
2. Financial security?
3. Track record?
2. Product offering?
1. Reach to lower income customers?
2. Competitive products (loans, savings/ benefits)?
Why introduce tenants or employees?
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• £5m in assets
• £4.5m in shares/savings
• £3.5m in loans
• £26 million loaned to members
since 1995
• 12 staff
• Highest profile location of
any CU in the UK
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• Shares Account
• Savings Account (2%)
• Junior Account (4%)
• Christmas Savings
• Mortgages
• Bill Payment Service
What can Pollok Credit Union offer?
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What can Pollok Credit Union offer? – In
Development
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Credit Union Save-it Project
• Private Tenants research
• Member Survey
• Discussions with Partners
• Development Phase
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What does it look like?
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Our System
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Our Offering Gold Silver Bronze
F2F interview Yes No No
Tenant open days 4 per year 2 per year No
Prepaid card included Yes Yes £3.50
Tenant Overdraft* £500 £250 £0
Dedicated PCU staff Yes No No
Same day transfer Yes Yes No – BACS Payment
Staff membership Free £2.50 £5.00
Staff Instant loans Yes Yes Yes
Staff training Free £2,000 £3,500
Initial Cost per member £39 £20 £10
Cost per member per
month
£5 £5 £5
Review Meetings Quarterly Six monthly Annually
*Maximum Amount Available. Subject to Status. Terms and Conditions Apply
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To Recap….
• Use of Dedicated
PCU staff
• Same Day Transfer
(on gold and silver)
• Tailored Service
• Partnership Approach
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Questions