WOCCU World Conference in Belfast
WOCCU World Conference in Belfast July 19th 2016 “Cuna Mutual Reception” Where: The Great Hall, Queens University, Belfast Time: 6:30 pm to 9:30 pm Date: Tuesday, 19th July, 2016 Please save the date. Further details will be sent to you over the coming weeks. Look forward to seeing you there. Histo…Read more >
WOCCU World Conference in Belfast
July 19th 2016
“Cuna Mutual Reception”
Where: The Great Hall, Queens University, Belfast
Time: 6:30 pm to 9:30 pm
Date: Tuesday, 19th July, 2016Please save the date. Further details will be sent to you over the coming weeks.
Look forward to seeing you there.
History of Queen's: Rich with heritage
Queen's University Belfast has a record of academic achievement which stretches back more than 150 years. Founded by Queen Victoria, the Queen's University in Ireland, was designed to be a non-denominational alternative to Trinity College Dublin which was controlled by the Anglican Church.
The University was made up of three Queen's Colleges - in Cork, Galway and Belfast. Although it was the first University in the north of Ireland, Queen's drew on a tradition of learning which goes back to 1810 and the foundation of the Belfast Academicals Institution. Founded in 1845, Queen's opened in 1849 when the first students entered the magnificent new college building designed and built by Charles Lanyon. Since then, the University estate has grown to more than 300 buildings - many of them listed for their architectural importance. The first batch of students numbered 90.
Today, Queen's is one of the leading universities in the UK and Ireland, providing world-class education underpinned by world-class research.
CUNA Mutuals Integrated Loan Protection Program
CUNA Mutuals Integrated Loan Protection Program Everyday CUNA Mutual is protecting more members’ loans with our low cost and easily introduced payment protection insurance. Our payment protection insurance, which is integrated on both the Wellington and Progress IT platforms, allows the credit uni…Read more >
- Our payment protection insurance protects member’s loans in the event of accident sickness or involuntary employment.
- Payment protection premium is integrated into the credit unions IT platform enabling premium collected along with the loan repayment.
- The low cost of payment protection insurance at 7.99% of the repayment amount.
- Credit Unions can identify the loans protected with payment protection insurance with the regular reports produced by the IT Platform.
- Available to borrowing members between the ages of 18 and 70 years
- Provides protection for self-employed and for members under contract work.
A rewarding performance and loyalty bonus from CUNA Mutual/ABCUL
A rewarding performance and loyalty Bonus from CUNA Mutual/ABCUL CUNA Mutual is once more paying a loyalty bonus to credit unions in the Guaranteed ABCUL Pool for Loan Protection and Life Savings insurance. For the second year in a row, CUNA Mutual – the global credit union insurance provide…Read more >
A rewarding performance and loyalty Bonus from CUNA Mutual/ABCUL
For the second year in a row, CUNA Mutual – the global credit union insurance provider – will pay a rebate equal to a full month’s premium for January 2016 to ABCUL member credit unions who offer Loan Protection and Life Savings insurance as part of the CUNA Mutual/ABCUL Pool. This second rebate means that Credit Unions in the ABCUL Pool will have shared a combined loyalty bonus worth almost £500,000 over the last 13 months. It will be paid to all participating ABCUL Pool Credit Unions at the beginning of March 2016.
The loyalty bonus is equivalent to an average rebate of 68% on credit unions’ ABCUL membership dues, and for a number of Credit Unions, the rebate is actually greater than the amount they pay for their annual ABCUL dues.
In other words, for many credit unions, the cost of ABCUL membership is almost covered by this exclusive member benefit alone – and in some cases, it’s more than covered.
Three years ago, ABCUL and CUNA Mutual worked on re-designing the Loan Protection and Life Savings programmes with three objectives in mind:
- To guarantee that ABCUL-member credit unions, regardless of size or situation, would be able to obtain affordable Loan Protection and Life Savings insurance.
- Increase the simplicity of rates and benefits.
- Provide credit unions greater peace of mind by increasing the stability of premiums, ensuring they remain affordable over the long term.
When the Pool was launched, every ABCUL member credit union at that time was given the option of joining the Pool. For those that chose not to, it made commercial sense to remain individually rated.
By creating the Guaranteed Pool, ABCUL enables credit unions to benefit from spreading the risk and avoiding peaks and troughs of claims performance at an individual level. This creates stability of rates, and means all participants benefit from this pooling of resources.
The new programme has exceeded expectations on these objectives and – because it is offered by a mutual provider – the Pool’s good performance has seen these substantial loyalty rebates being paid to ABCUL-member credit unions.
ABCUL Chief Executive Mark Lyonette said: “We’re proud to work with CUNA Mutual to help credit unions affordably offer Loan Protection and Life Savings Insurance, and to give the peace of mind they provide to hundreds of thousands of credit union members and their families. Our credit unions are differentiating themselves by helping thousands of families each year deal with the financial burden associated with bereavement.
“The success of the ABCUL Pool – including this very substantial loyalty rebate – is testament to the benefits of co-operation, and this unique programme delivers exceptional, real value to our member credit unions.”
CUNA Mutual Europe Chief Executive Paul Walsh said: “I’d like to express our thanks to all at ABCUL; to Mark, his team and the Board for working with us in making this a stronger and more sustainable protection programme that’s open to ABCUL credit unions, regardless of size.
“By creating a strong and robust pool of credit unions for Life Savings and Loan Protection by leveraging the scale of the combined ABCUL credit union group, CUNA Mutual have been able to provide all our credit unions with a fair, inclusive and sustainable benefits programme. This is strength through co-operation in practice.”
This year’s rebate will be calculated during February, and the rebates paid to eligible credit unions in early March. CUNA Mutual will be writing to you confirming your specific rebate in due course.
To be eligible, credit unions must be in the Guaranteed Pool, and have submitted all due payments and reports up to and including January 2016, prior to 15 February 2016.
149 ABCUL member credit unions are in the Pool and have these policies with CUNA Mutual to provide significant benefit and comfort to their members, and all those credit unions are eligible to benefit from the loyalty bonus.
Whether if you have any queries or we can be of assistance in any way, please do not hesitate to contact Ann, Jose, Bernard or Bobby on 0121 3590221
Scotland – A Credit Union Nation
London, February 18th, 2016: A key milestone Credit Union gathering, led by the Scottish government’s Deputy First Minister, John Swinney, MSP, and sponsored by CUNA Mutual, the Credit Union’s protection partner, concluded that the expansion of employer payroll deduction programs and attracting, edu…Read more >
London, February 18th, 2016: A key milestone Credit Union gathering, led by the Scottish government’s Deputy First Minister, John Swinney, MSP, and sponsored by CUNA Mutual, the Credit Union’s protection partner, concluded that the expansion of employer payroll deduction programs and attracting, educating and enabling Gen Z’s were the two key findings to it’s the government’s Working Group on Credit Unions, hosted in the Scottish Parliament, at the weekend.
The Working Group, Chaired by Fergus Ewing, MSP and Minister for Business, Energy and Tourism, led a tour-de-force assembly of Credit Unions across Scotland at the publication of ‘Scotland’s Credit Unions: Investing in our Future’ in the main assembly chamber of the Scottish parliament.
Nicola Sturgeon, MSP and First Minister of Scotland, added in her address within the report that ‘The Scottish Government recognises the valuable role played by Credit Unions in building financial health by providing financial services and products to a wide range of customers.’
This milestone event, sponsored by CUNA Mutual, the Credit Unions insurance and protection partner, was assembled by John Wilson, MSP, who also convened the Credit Union Working Group for Scotland. Wilson led the delegates through the working group’s key findings .The reports call for the for broadening of employer payroll deduction programs for Credit Union members, a major benefit for both employees and employers, and continued drives from Credit Unions in financial education, particularl [/]y with younger protection members – the Gen Z grouping.
Stakeholders from all major groupings of Credit Unions across Scotland attended the event, one of the last major events prior to the Scottish Parliamentary election shortly.
Key speakers included George Hoffheimer from Filene, the Credit Union thinktank, who addressed Credit Unions on key winning strategies adopted by other Credit Union systems globally. Clear from his presentation, Scottish Credit Unions have the key ingredients needed to succeed in an changing financial market, particularly for younger and more socially aware, engaged and demanding consumers.
Credit Unions in Scotland has seen a major revitalisation over recent years. With over 100 Credit Unions in Scotland, it has the fourth highest levels of membership in the Europe, after the Republic of Ireland, Northern Ireland and Poland. Across Scotland almost 6% of the population deal with a Credit Union, and in Glasgow alone almost 25% of the local population are members of a Credit Union.
Paul J Walsh, CEO of CUNA Mutual Europe, who spoke at the conference, added ‘Scottish Credit Unions play a important role in the financial wellbeing of many across Scotland, and with continued public, and government endorsement, they have an even more vital role for the future. Credit Unions are the lifeblood of community and workplace financial support. They have changed the lives and access to finance for tens of thousands in Scotland and they play a vital role for any employer seeking to attract and retain high calibre talent, as part of an employer package of workplace benefits’
Scotland’s Credit Unions: Investing in Our Future is available from www.gov.scotClick Here for more presentation and Link