•Credit Unions were originally formed in Europe during the 1840’s. •They were a safe way of saving and at the same time provided affordable Credit facilities for the general public.•Since then they have spread all over the World providing this safe and secure financial service to Millions of people.•They now operate in most Countries – most popularly in Europe - USA - Canada – and particularly Eire.

One of the best kept secrets in the financial sector in the United Kingdom.

We in this country have a history of self help and savings prudence, evidenced for example in the Building Society movement – but there are now so few left – having converted to Banks.

Credit Unions are: a not for profit, mutual organisations that provide safe saving accounts and affordable loans.

We are now expanding our services

Door Step Lenders – 270%

Internet Lenders - 4,217%

Loan Sharks – Over 10,000% +

These are typical rates

•Savings Balances of £1.6m•7,200 Members•Three Offices•A Mobile Office•40 School Savings Schemes•25 Saving points across NPT•10 Salary Savings Schemes•5.2% of the NPT population have an account with us.•One in every Nine credit union members in Wales are ours.

Savings AccountsSchool Savings

Christmas SavingsISA’sLoans

Online BankingDebit Cards

Budget AccountingHousing Benefit scheme Introduced throughout

Wales

•Savings Balances of £2.5m

•12,000 + Members =9% of the NPT Population

•Loan Book of £1.5m

•Financially Self Supporting

•Providing additional services such as Mortgages

•Our aim is to be one of the main providers of Savings and affordable Loans in our Area

This will automatically deal with the total benefit and allocates settlement of all of the agreed financial commitments.

Unlike high street banks we are willing to spend time with each beneficiary to establish the “hierarchy of payments” for the Universal Credit.

The remaining funds, once all of these commitments have been paid, will pass to a debit card – also set up with the NPTCU.

This gives the added benefit of ease of access to their funds and appropriate banking facilities.

Cost of card to the tenant is £2.50 to set up and £2.00 per month, ATM withdrawals will cost 70p, but cash back in supermarkets is free.

There are a number of supermarkets and general retailers offering cash back on all purchases with this card, which should more than cover the cost.

Additionally online purchasing on this card provides other discounts.

We are a not for profit, mutual organisation, owned by and accountable to our members.

We operate in the Community for the Benefit of our Community.

The wealth generated therefore stays within the Community.

Tenant and Landlord agree for HB to be paid to NPT credit union.

Landlord to pay the one off charge of £2 for tenant to join NPT credit union.

Landlord will be paid the HB on day received

Tenant will be offered help and advise on budgeting

Cost to Landlord 2% of each HB paid No longer a compulsory saving

amount for tenant

Tenants monthly Benefits paid to the credit union, includes monthly housing benefit.

Credit Union will pay all agreed monthly bills for tenant (Tenant Responsible for rent payment if not in Landlord Scheme)

Pre-loaded Debit card available for tenants at a cost of £2.00 per month, (cash back on retail card spend)

Landlord will be informed within 24 hrs if shortfall of Housing Benefit received from DWP into tenants acc If tenant requires we can load cash on the card once a week, instead of once a month.

Cost to Landlord 2% of HB transferred

Reduce costly rental arrears and evictions. Cost of only 2% of each HB payment Rapid payment and any concerns

answered quickly “locally”, by an ethical Benevolent bank.

Tenants will be offered advise on budgeting and will not face the temptation to spend the HB.

Utility Package approx 2014 Reduced cost Elec & Gas by smart meter, (smart meters compulsory in UK by 2019)