Tag Archives: finance

Charity Pioneers campaign recognises good deeds

Accounting software company Sage is celebrating the good deeds of the most inspirational charity workers in the UK and US. The recently announced Charity Pioneers campaign recognises hard-working people that have dedicated their lives to a cause or charity. 

Charity Pioneers Campaign Photo

Sage is on the lookout for the most groundbreaking and life-changing charitable faces working in the UK and US today. Whether they’re promoting causes like entrepreneurship, diversity or education, these individuals actively strive to make the world a better place for young people, women, and military veterans. The charity pioneers Sage has chosen so far come from a range of backgrounds and demographics and yet they all share one thing in common – they’re changing lives for the better and that deserves to be celebrated.

Nominate a Charity Pioneer

Know someone that deserves recognition? Sage is still hunting for the very best. To submit a nomination, enter the name of the chosen nominee, the type of charity they work for, and the reason they should be recognised. Note that nominees must work with young people, women, or military veterans.

Sage Group logo

Not only could nominees feature alongside other Charity Pioneers, but their charity could also win the GBP equivalent of $5,000 of Enterprise Fund funding (Sage Foundation). The competition closes on 21st September 2018 and the campaign page can be found here: https://www.sage.com/en-gb/c/v/charity-pioneers/.

Sage offers a range of products to help charities and nonprofits, such as its accounting software which has been specifically designed to handle charities’ financial needs, including GiftAid and VAT.

Haringey resident says join your credit union to support your community

A member of London Capital Credit Union is calling on Haringey residents to join their local credit union to help strengthen the local community.

Sue Hoyle“Unlike high street banks, credit unions are owned by local people and work for their best interests,” says Sue Hoyle.

Sue, a former care worker, has been a member of London Capital Credit Union for 20 years and says that credit unions are such a good idea that more people should know about them.

“I believe passionately in our local community and debt is a serious issue for many people. Credit unions can be part of the solution as they keep more of the money in the local community with local people.”

Credit unions work by offering loans on affordable terms to local members and the interest raised is then made available to lend to more people locally.

“I joined London Capital Credit Union to get a loan and thanks to the way the loan was structured, I was saving at the same time as paying the loan back.”

Encouraging saving and greater financial awareness is key to the way credit unions work. Says Sue, “I had a 0% transfer credit card some years back and paid back the minimum balance by standing order each month, but basically it was like giving them money for nothing as I was mainly paying off interest, so I used my credit union loan to pay off the credit card.”

Over the years Sue says she has saved a fair amount of interest by using the credit union and has used the savings to pay for car repairs and even a holiday.

“I am just one person,” says Sue, “but, across Haringey, local people have saved over £2.9 million in loan repayments by being members of the credit union. That’s something to shout about.”

New credit union services for armed forces personnel

Johnson Beharry VC joining London Mutual Credit Union.

Johnson Beharry VC joining London Mutual Credit Union.

Three of the UK’s leading credit unions have joined forces to make simple savings accounts and loans available to the Armed Forces and their families.

The arrangement means that Armed Forces personnel will be able to save regularly or repay loans with a credit union via payroll deduction. Family members and retired personnel in receipt of a pension are also eligible to join.

A new website – www.joiningforcescu.co.uk – has also been launched with details of the services offered to Armed Forces personnel by the three credit unions and links to join.

Over the years, Armed Forces personnel have reported difficulties accessing credit because their job involves moving regularly and it can be challenging to build a good credit rating. For this reason, some personnel have reported being actively targeted by high cost lenders.

The appetite to facilitate regular saving and affordable borrowing for Forces personnel saw the Government exploring payroll deduction partnerships with credit unions, and following an application process, three of Britain’s largest and most successful credit unions – Plane Saver Credit Union, Police Credit Union and London Mutual Credit Union – have been selected to offer this service to Forces personnel.

Police Credit Union Chief Executive Peter Evans said: “The three credit unions are honoured to offer our services to Armed Forces personnel, and it is a great example of credit unions working co-operatively with each other and with the Ministry of Defence to deliver a service to the men and women of the Armed Forces.

“Joining a credit union gives military personnel access to regular savings and affordable credit with a financial services provider that understands their job and their lifestyle. Our credit unions can help them stay on top of their finances and steer clear of high cost lenders.”

Minister for Defence Personnel and Veterans Mark Lancaster MP said: “I’m delighted that credit union services will today be available to Armed Forces personnel. It is crucial that those service people who work so hard to keep Britain safe, both at home and abroad, can access easy and affordable ways to save and borrow.

“This helps to tackle an issue that has caused disadvantage and disappointment to some service members.”

One of the first people to join a credit union under the new arrangement is Lance Sergeant Johnson Beharry VC. Lance Sergeant Beharry – who became the first living recipient of the Victoria Cross since 1969 for saving the lives of his comrades in Iraq – has joined London Mutual Credit Union.

Johnson Beharry VC said: “I am pleased to join London Mutual Credit Union and I look forward to spreading the word about this new scheme for military personnel. It is often difficult for people in the Armed Forces to gain access to financial services, especially those serving overseas who have little or no way of getting credit in the UK. By joining a credit union, Armed Forces personnel will be able to access affordable loans when they need them and to plan for the future by saving directly from their pay packets through payroll deduction.”

A credit union is a financial co-operative which provides savings, loans and a range of services to its members. Credit unions share the co-operative ethos of people helping people, and because they are owned by their own users and not by external shareholders or investors, the emphasis is always on providing the best service to members; not maximising profits from them.

Internationally, credit unions have a proven record of providing services to Armed Forces personnel. The largest credit union in the world, Navy Federal Credit Union, has offered savings, loans and a range of financial products to members of the United States Armed Forces and their families since 1933. Today, the credit union has around 5.7 million members across America and assets of $70 billion.

Stay up to date with all the very latest news via www.twitter.com/JoiningForcesCU.