Tel: 01582 666877 Email: office@mmcu.co.uk

25 July 2017
News

Shadow Chancellor Visits Money Matters

On a visit to Luton today Shadow Chancellor John McDonnell MP took time away from the campaign trail to pop into the Money Matters office to meet some of our volunteers, directors, and staff.

Mr McDonnell, who was accompanied by Cllr Hazel Simmons (Leader of Luton Borough Council), was full of praise for the Credit Union movement, expressing admiration for the valuable work that is done by Credit Unions across the country. Reflecting on these difficult times and the financial struggles that many in the country are facing he went on to suggest that Credit Unions are needed today more than ever.

Mr McDonnell spoke to the team about the work of Money Matters and showed a particular interest in the challenges faced by Credit Unions today. Aidan Gallen (MMCU Treasurer) spoke of some of the local issues that are particular to Money Matters and we were delighted that Cllr Hazel Simmons offered her support and commitment to working with us in addressing some of these.

Many thanks to both John and Hazel for visiting and for your support.


Christmas begins early at Money Matters

Money Matter Credit Union launches their Christmas Savings Accounts for 2017.


The Money Matters Christmas Account enables savers to set aside a little money regularly to offset some of the costs of what can be a very expensive time of the year. By saving a little each week or month, by December there will be a welcome lump sum ready to be used on the food, gifts, and treats that help make Christmas so special.


Matt Jeziorski, chair of Money Matters said, ďAt Money Matters we know that it is never too early to begin thinking about Christmas and opening one of our Christmas Savings Accounts today is a prudent financial choice which helps ensure Christmas is properly budgeted for.


ďIn December we were pleased to support Luton Council in their timely warning of the dangers of loan sharks and exploitative and expensive payday lenders around Christmastime. A Christmas Savings account with your local credit union will help avoid such dangers further down the road.Ē


Rachel Hopkins, Luton Labour Councillor and Portfolio Holder covering consumer protection and trading standards, said Saving a little regularly through the year, such as through a Credit Union, will help to avoid the last resort of turning to unscrupulous loan sharks in the run up to Christmas. Loan sharks lend money and then demand extortionate repayments which victims have no chance of meeting. With rarely any paperwork, victims can be in the dark about how they are actually paying. Interest rates of over 100,000% APR have been known.


In 2016 Money Matters paid out over £60,000 to more than 200 Christmas savers, providing a timely financial boost to many families. Opening a Christmas Savings Account with Money Matters Credit Union might be the soundest financial choice you make this year.


AGM 2017

The Money Matters Annual General Meeting was held at Lewsey Community Centre on the evening of Tuesday 21 March 2017. There was a strong turnout of members eager to hear about the work of the Credit Union over the past twelve months and to have their say on how Money Matters is run.

In his report on behalf of the board Matt, our Chair, spoke of the many successes of the Credit Union over the past twelve months. With the merger with South Luton Credit Union, a stronger team of staff, directors, and volunteers, refreshed publicity material, new projects, and a wonderful school Credit Union launched in Lancot School this has been a year of great achievement.

In thanking the volunteers who enable us to reach as far as we do as a Credit Union Matt also included a call for new volunteers to support us as we further grow and develop in seeking to serve the people of LU1-7 evermore effectively. There are a variety of volunteering opportunities to suit everybody so please do enquire at the office if you are interested.

Terry, our auditor, then talked the meeting through the accounts for the year and reported on a healthy financial position. This notwithstanding the meeting unanimously supported the boards recommendation that no dividend will be paid to members this year due to the need to stabilise and consolidate our position after the merger.

The final piece of business was to elect four former South Luton board members to our own board of directors and we are delighted to welcome Arlene, Aidan, Debbie, and John to the team - they had been co-opted as board members since the merger and have considerably strengthened our team of directors.

At the conclusion of the AGM the board held a short meeting to appoint officers. Matt was reconfirmed as chair with Arlene (vice-chair), Aidan (treasurer), and Debbie (secretary) also elected to officer roles for the coming year.


AGM 2017

The Annual General Meeting of Money Matters Credit Union will be held at Lewsey Community Centre on Tuesday 21 March at 7:30pm. We encourage all members to attend and have your say on how our credit union is being run.

As this will be the first AGM since our merger with South Luton Credit Union we extend a particular invitation to those members who have transferred to us to come along and meet the staff, directors, auditor, and all those involved in running Money Matters.

It would be great to see lots of members old and new at this meeting where you get the chance to hear about the work of your credit union and to ensure that it is being run effectively and efficiently. We hope you can make it.


Donít get bitten by loan sharks

Luton Borough Council today launched a pre-Christmas campaign warning people about the risks of loan sharks. Quoted in the campaign, MMCU chair Matt Jeziorski reminded people of the value of Credit Unions in providing a safe place to save and affordable loans. Matt said,

By offering affordable and accessible loans, membership of a credit union is a great way to avoid the exploitative and expensive services offered by loan sharks and payday lenders

Money Matters Credit Union has served the people of Luton for over 20 years; our members save with us with confidence and know that, when they feel the pinch, our loans are available to help them through.

Money matters has recently paid out on our Christmas Club by which members save little and often throughout the year. Saving in this way spreads the cost of Christmas and reduces the risks of falling into debt at this expensive time.

The Luton Council campaign can be found at http://www.luton.gov.uk/news/Pages/Don%E2%80%99t-get-bitten-by-loan-sharks.aspx


Merger with South Luton CU

On Tuesday 13 September 2016 the merger of South Luton Credit Union and
Money Matters Credit Union was completed. Money Matters is now the
credit union for all LU postcodes.

Members of South Luton Credit Union have had their membership
transferred to Money Matters. You will be receiving a letter welcoming
them to their new credit union and advising them of their new membership
number.

As well as the main office in Lewsey Community Centre there are
collection points in Farley Hill, Leighton Buzzard, Marsh Farm,
Dunstable, Houghton Regis, and Luton town centre. Full details of our
collection points and can be found on the Opening Times section of this website

If you have any questions about Money Matters Credit Union please give
us a call on 01582 666 877 or pop into our Lewsey Community Centre
office.


MMCU at Leighton Buzzard

We have now opened a branch in Barclays Bank in Leighton Buzzard on a Tuesday and Saturday Morning opening from 10.00am to 12.00pm.


Joining the Credit Union

Please be aware that when joining the Credit Union that you will need Proof of ID which is either Passport or Photo Driving Licence with paper part.

2 household bills to prove your address which can be Gas/Elec bill, Council tax bill water rates or Landline bill [no mobile phone bill]

[ A Bank Statement is not acceptable as a household bill]

also required is your National Insurance number

if you work in the LU1--LU7 area but live outside of this you will also need to bring proof of employment ie Contract of employment


Have you got news for us?

Send us your news and views so that we can keep our news current and up-to-date. If you have any other queries or comments we would be delighted to hear from you at any time.


Money Matters Credit Union Tel: 01582 666877 Email: office@mmcu.co.uk Web: http://www.mmcu.co.uk
Money Matters Credit Union is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation and Financial Conduct Authorities (FRN 213625)