The Credit Union Office, The Presbytery
Swarcliffe Drive, Leeds LS14 5AW
Telephone: 0776 108 1338
St. Gregory’s Credit Union is authorised by the Financial Conduct Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority under the FRN (Firm Reference Number) 213539
IT’S NEW YEAR SOON! .....WELL IT IS FOR THE CREDIT UNION ON 1st OCTOBER 2016!
How time seems to be passing so quickly once more, as on the 1st October 2016 it will be the start of the new financial year for St. Gregory’s Credit Union Ltd, as we embark on our 22nd year of operation on behalf of our loyal and established body of Members.
The Management Board of Directors wish to thank all our Members for their continuing support, and grateful thanks to our Directors and Volunteer Associates for carrying out their diligent service throughout the Parish of Blessed John Henry Newman at St. Gregory’s, St. Theresa’s and Corpus Christi; that is always a credit to everyone concerned .
Again we can emphasise our key aims and objectives for the New Financial Year 2016/2017
- Raise the focus and profile of St. Gregory’s Credit Union Ltd
- Retain the confidence entrusted in the Credit Union
- Maintain good customer service to our Members that is always based on trust, goodwill and friendship by adopting a caring, sympathetic and listening approach
St. Gregory’s Credit Union Ltd continues to operate against an ever-changing financial background in the provision of the best possible service for our Members and towards the maintenance of a healthy financial balance sheet to reflect the Credit Union’s assets.
We have seen recently the main High Street Banks continue to reduce and in some cases “wipe out” their Interest rate on Savings and Deposit Accounts that are held by their Customers, and this has also affected St. Gregory’s Credit Union Ltd. Income returns in the form of Interest received on Capital Sums invested is much harder to come by, as all Credit Unions have to place their Financial Assets in safe and secure Bank Accounts, so there are no speculative gambles with Credit Union finances than can be considered at all.
Also we continue to see the rise in other High Street Loan organisations such as Pay-dayLoan Companies and other Loan Companies, operating within our Community in East Leeds (there are some 15+), organisations charging extremely high rates of interestloans to unsuspecting Clients. So avoid these Organisations and consider joining St Gregory’s Credit Union Ltd, as a new Member to seek out a Loan Provision after a qualfying period instead!
SOME IMPORTANT NEWS FROM YOUR CREDIT UNION
The Board of Directors of St. Gregory’s Credit Union Ltd wish to announce that as from the 1st October 2016 (the start of the new financial year) the Loan Interest charged for any Member’s NEW LOAN APPLICATION will revert back to 1.0% Per Month (Equivalent to 12.68% Per Annum) repayable over a period of up to 5 years,per the Credit Union Statute rules.
This rate of Loan Interest is the nationally agreed rate to charge for all Credit Unions, as it STILL REPRESENTS THE BEST VALUE FOR MONEY LOAN available to Credit Union Members.
All existing Loans currently charged at 0.7% Interest per Month (our reduced Rate that we have operated for over the past 12 years) REMAINS TOTALLY UNAFFECTED for the duration of any existing signed Loan Agreement, as would any New Loans approved BEFORE the 30th September 2016.
Also as from the 1st October 2016, St. Gregory’s Credit Union Ltd will propose to offer Members access to a form of SHORT TERM LOAN with a maximum limit value of £500, for a period of between 1 and 3 months duration with a Loan Interest Rate charged at 2.0% per month AND between a 4 and 6 months duration with a Loanterest Rate charged at 4.0% per month.
This action (and new product) is specifically aimed at matching the Pay Day Loanganisations who currently charge an exceedingly higher Loan Interest Rate for their Clients. So this option is desired to be something newer for Credit Union Membersconsider should they need to seek out a shorter term loan of this nature, as part of their individual financial management.
Finally, as we enter the Credit Union’s New Financial Year on the 1st October 2016, remember that in our “real calendar world” the CHRISTMAS PERIOD 2016 is only some three months away; sorry to remind people!!!
But if Members now wish to consolidate their Christmas Planning and Financial Budgeting for this expensive time of the year, then why not seek out a LOAN from St. Gregory’s Credit Union Ltd, to help you out over this period.
It is much safer and easier to seek out a Loan facility with your Credit Union than face the demands and stricter rules (and implications) from other High Street Money Lenders who will delight in charging you a premium privilege rate of interest for doing so. BE AWARE!
"St. Gregory’s Credit Union Ltd IS WORKING FOR YOU!!!”