Annual fee - Final correspondence

Tuesday, 20th October 2020

Dear Member

First, I trust that you are well and coping with these very challenging times.

As you will hopefully be aware, your credit union has made enormous advances in the last couple of years in both its service offering and the range of products we offer. We have invested in a new banking platform and other IT solutions to deliver these. As a Darlington Credit Union member you can now take advantage of the following products:-

• Current account: On-line and digital
• Debit card: Backed by Mastercard and offering three options tailored to your needs
• Savings accounts
• Affordable loans with fully automated loans processing ensuring a quick decision, e-signatures and release of funds electronically
• Bills account
• Payroll deduction schemes: savings and loans with direct payment straight from salary

All backed up by a state of the art banking hall, based at 41 Tubwell Row, offering that face-to-face experience* that is rapidly disappearing from the High Street banks.

In addition to the above we also take our social impact very seriously and maintain the following services with free access:-

• Primary/Junior school savings clubs: Currently in 13 schools throughout the Borough
• MoneySmart – financial management support & education: accessed by over 50 local organisations to support their most vulnerable clients and by colleges to educate their students in this important area
• 0% credit arrangement: with Bike Stop to support their important work by offering their customers a competitive 0% credit facility
• MoneySmart website: to be launched in September 2020. Allowing free electronic access to all our MoneySmart educational tools and access to training videos

All the above could not happen without your valued support. We are making enormous differences to people’s lives and for that we thank you.

We want to continue this work and allow greater access to a greater number of people. To assist us in that goal we are asking you, our members, to support us even more than you already do. We are asking you to invest in that future by introducing an annual fee of £5 per member. We hope that this investment will help deliver the growth that we are anticipating at a faster rate. To allow us to help even more people get their lives back on track.

It is, for most, a small charge but the cumulative effect will make a massive difference to our pace of development and our ability to reach out to more people with our unique support

We will introduce this Annual Fee from November 1^st 2020. So, on that day we will deduct £5** from your savings account.

All participating members will be entered into an annual Christmas draw*** with prizes of £300, £150 and £50.

Thank you all for your invaluable support over many years. We have been helping our community for 11 years this September and we hope for at least another 11 years to come.

Kindest regards Tony

Note*: Regrettably, owing to the coronavirus our banking hall remains closed. Behind the scenes we are working hard to prepare for a secure and safe re-opening for members and staff

Note **: If your balance, on that day, is less than £5 we will deduct what is available and the remainder will be deducted when a sufficient credit balance on the account allows.

Note***: The Christmas Draw is free to enter and all member’s over the age of 18 will be entered with the exception of any member(s) who are in arrears in respect of their DCU loan at the time of the draw.

Tony Brockley

CEO, Darlington Credit Union