We anticipate being in a position to accept new members from South Lakeland and offer new loans in April 2017.
We will operate from Sandylands Methodist Church on Wednesday mornings starting on April 12th between 10.30 and 12.30
SLCU merger with EdenSave
Frequently Asked Questions
- 1. What are the benefits of the merger?
EdenSave is an established credit union that is successfully operating and making loans. Merging with EdenSave, to form a new credit union for Eden and South Lakeland, will enable us to use their experience and their tried and tested processes to quickly establish a credit union service in South Lakes. This will reduce running costs and avoid duplication of work related to compliance with the Bank of England Prudential Regulatory Authority (PRA) regulations thus freeing up resources to provide front-line services.
It is the intention that the first service point will be located in Kendal at Cornerstone, on Sandylands Road. There is also a clear intention to provide a service point in the centre of Kendal sometime later in the year, followed by further service points in South Lakeland as the new company, Eden and South Lakeland Credit Union, develops.
- 2. When will the merger be complete?
Work on the merger has already started. The Regulatory Authorities have approved the merger and the new EdenSave and South Lakeland Credit Union is a reality, along with a new logo. We are now all working on the formalities of the merger that we hope will mostly be done by April, with the merger completed by May.
- 3. What is the new Credit Union called?
It is the Eden and South Lakeland Credit Union. This is our new logo.
- 4. How can I find out more information or get involved in the Credit Union?
See below our FAQs on volunteering with the Credit Union.
- 5. Where can I find out more information about EdenSave?
See their website; https://www.edensave.com/
Volunteering with the Credit Union
Frequently Asked Questions
- 1.Why volunteer?
The success of the credit union depends on its membership and particularly on the availability of committed volunteers. The Credit Union depends on volunteers to run the service, giving local people the opportunity to join up, make deposits into their account and apply for loans.
We also always need organisational, marketing, secretarial and IT skills to sustain a successful credit union and if you are willing to contribute any of those skills, we will be delighted to hear from you.
- 2.What skills do I need to volunteer with the Credit Union?
You do not need to have any specific skills to volunteer with the Credit Union – mainly you need to be enthusiastic about the Credit Union, willing to take part in training for the role you volunteer for and have time to commit to volunteering.
If you are comfortable operating a computer or providing services to people, then you may enjoy volunteering in the service when we open it in Kendal, enrolling new members, operating as a cashier and assisting people to complete application forms for a loan. You would not be expected to interview people to ascertain their credit worthiness for a loan unless you feel comfortable doing so, as the decision to grant a loan would normally be referred to a credit committee.
The service point will have a computer link to the back office in Penrith, and a willingness to enter data into a computer will be useful. However, if you do not feel comfortable about this, do not let that stop you volunteering, as there will always a minimum of two volunteers per session.
We also always need people who can volunteer to support the Credit Union with marketing, administration, website and other skills.
- 3.What training will I receive as a volunteer?
We will provide full training for volunteers who are going to work in our service point. This will include learning how to use our computer system, the processes for enrolling members, taking deposits and interviewing people applying for a loan. The training will take place in Kendal and will include visiting the service in Penrith to see how it all works.
- 4.How much time will I need to give as a volunteer?
We need volunteers who can offer different skills and different amounts of time. Volunteers who sign up to work in the service point in Kendal will be on a rota and can volunteer for one morning per week or one morning per fortnight.
If you are feel you cannot make a regular time commitment, we would still like to hear from you as we will always need people who can volunteer to cover the rota when regular volunteers are on holiday or unavailable.
As we expand the service to more days and open more service points in other places, we will need more volunteers and there will be opportunities to volunteer for more time or on different days each week.
Volunteers will need to attend training before they start working in the service point and when we are up and running, there will be volunteers’ meetings, probably quarterly, to keep everyone up to date and for volunteers to talk about any issues or ideas they have for the service.
- 5.When are volunteers needed?
We are recruiting volunteers now for the service point in Kendal that we plan to open in early April. So get in touch if you are interested.
If you want to volunteer with the Credit Union, but you will not be available until after April, get in touch anyway as we will always need volunteers and hope to extend the service before too long.
- 6.How do I volunteer?
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