Issue - meetings

            That the presentation be received. 

                        The Chairman introduced Mr. David Collins from the North Wales Credit Union to the Committee.

                        Mr. Collins provided a detailed presentation on the North Wales Credit Union to the Committee, the main features of which were:-

·         How any credit union works

·         The North Wales Credit Union model

·         Our products

·         Key information

·         How we compare

·         Case study – lands to financially low income households

·         Myth busters

·         Problems tenants will encounter in managing their own bank account

·         How the Credit Union will be able to help

·         The Credit Union needs a balanced membership

·         Credit Union – Not just for those on low incomes

·         Future developments

Councillor Ian Dunbar thanked Mr. Collins for the excellent presentation and referred to the impact that Credit Unions had on those who were unable to access loans or savings accounts through high street banks.  He asked whether there were any proposals for the North Wales Credit Union to have a base in the Flintshire Connects office in Connah’s Quay, as they currently did not have an office in Flintshire.  He welcomed the funding package from Welsh Government.  In response, Mr. Collins said that he accepted the comment about not having a presence in Flintshire but said that he had worked with the Council’s Revenues Manager to allow Credit Union Members to pay in at kiosks located throughout the County.  North Wales Credit Union had recently been in partnership with Flintshire employers such as the Council and Airbus to allow employees who were Credit Union Members to have deductions taken from their payroll to pay into their savings account.  Work was ongoing with other employers to promote the scheme and discussions had also taken place with Communities First to promote their services to residents. 

Councillor Paul Shotton asked whether a programme was in place to identify savings opportunities to children in schools.  He also asked whether a mobile van to travel around Flintshire to promote the services of the Credit Union had been considered.  Mr. Collins explained that the North Wales Credit Union did not have capacity to visit schools but added that the All Wales Credit Union did a large amount of work with schools.  He commented on the detailed information obtained when members applied for loans with the Credit Union which could help to increase their credit rating if they repaid the loans on the terms initially identified.  He spoke of ‘payday lenders’ and the rates that some firms charged and said that if they were not able to assist someone who was requesting a loan, they could signpost them to an appropriate agency.  Mr. Collins welcomed the suggestion for a mobile vehicle and said that he would speak to the General Manager about the proposal. 

In response to a query from Councillor Joe Johnson, Mr. Collins said that the North Wales Credit Union had a low number of bad debtors and reminded the Committee of the importance of getting back the amount which had been lent as it belonged to the savers.  This could result  ...  view the full minutes text for item 24