1 / 13

The Oddfellows A friendlier society

The Oddfellows A friendlier society. Jane Nicole, Concord Branch Secretary Telephone number: 01276 66868 Email address: Jane.Nicole@Oddfellows.co.uk www.oddfellows.co.uk. What are we here to talk about?. To promote the Manchester Unity Credit Union How it can help savers

slanier
Download Presentation

The Oddfellows A friendlier society

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Oddfellows A friendlier society Jane Nicole, Concord Branch Secretary Telephone number: 01276 66868 Email address: Jane.Nicole@Oddfellows.co.uk www.oddfellows.co.uk

  2. What are we here to talk about? To promote the Manchester Unity Credit Union How it can help savers How it can help borrowers To tell you about the Oddfellows Who we are What we do To answer any questions

  3. Manchester Unity Credit Union Ltd What is a Credit Union? A Credit Union is a very simple concept. Its members save each month and the savings provide the funds for making loans to the members. The interest on the loans provides the finance to run the Credit Union, and whilst savings do not attract interest if the Credit Union has a surplus at the year-end a dividend can be paid on the savings.

  4. Manchester Unity Credit Union Ltd A Credit Union is a ‘not for profit’ financial co-operative which is run by the members for the members. Our Board of Directors are unpaid volunteer members.

  5. Manchester Unity Credit Union Ltd • All Credit Unions have a ‘common bond’ that links members; it can be an occupation, where you live, or an association. • ‘common bond’ is our members must also be members of the Oddfellows or Foresters friendly societies. • The Credit Union and the Societies are both ‘Mutual’ organisations, and are dedicated to looking after and providing benefits for their members. • regulated by the PRA, (the Prudential Regulatory Authority), and the FCA (the Financial Conduct Authority).

  6. About the Oddfellows • Established in 1810, the Oddfellows is one of the largest and oldest friendly societies in the UK, with over 310,000 members across 132 Branches nationwide. • We’re a non-profit mutual run by our members for our members, and we do our best to improve the quality of people’s lives through friendship, care and charitable support.

  7. How did we get our name? • Skilled workers were called ‘fellows’ and were often part of a trade guild • In smaller towns and villages there weren’t enough of a particular trade to form a specialist guild • The “odd” fellows formed their own trade guild • They would meet regularly and put a little money each time into a pot. If one was sick and couldn’t earn wages, money would come out of the pot to help him

  8. Summary of Benefits of Oddfellows Membership£25 a year or £35 a year From day one: Social events Oddfellows news by email Active Travel Club Money-saving partner offers Just Travel insurance Golden Charter Funeral Plan Benevolence Grant Accidental Death Benefit Care & Welfare Helpline Oddfellows Citizens Advice Line Orphan Gift Fund Branch care & welfare support Legal Aid Scheme Emergency Financial Aid After a qualifying period (QP): Educational Awards (QP 5 years) Convalescence & carer support (QP 2 years) (Dental Benefit (QP 1 year)) (Optical Benefit (QP 1 year))

  9. Manchester Unity Credit Union Ltd • The Advantages of being a Member • The Credit Union develops a saving habit to build a ‘nest-egg’. • There is access to low interest loans (APR 12.7%), with no hidden charges, setting up fees, no cost for early repayment, and no administration charges. Our interest rate is not linked to the Bank of England Base Rate, so does not fluctuate with it. • Free life assurance protects both savings and loans, loans repaid and savings (terms and conditions apply).

  10. Manchester Unity Credit Union Ltd • How it works • Must join Oddfellows (Separate payment or joint with Credit Union • Save for six months (Min. £8.00 pm (£5 + £3) • First loan of three times savings • Continue to save while repaying • Annual fee of £2.00 • Subsequent loans of seven X savings

  11. Manchester Unity Credit Union Ltd • How it works • Borrow £100 over 12 months, pay back £106.56 • School uniforms? Christmas? • Borrow £300 over 36 months, pay back £358.71 (£9.96 p.m + £5.00 savings) • Car repair? Washing machine?

  12. Manchester Unity Credit Union Ltd • Summary • Minimum savings £5 or £8 per month • £2 annual membership fee • NO hidden charges • Free life insurance • Access to Membership Benefits • Local Office so personal touch

  13. Any questions

More Related