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HOPE (Plymouth) Credit Union Ltd



 

11 December 2015

The Financial Conduct Authority (FCA) have confirmed the merger. We start to operate as a merged credit union on 1 January 2016.

19 November 2015 Proposal for Merger

At the Special General Meeting held at Welcome Hall, 4 Fore St, Plymouth PL1 4DN, Members of City of Plymouth Credit Union voted to accept the merger of Hope Credit Union by Transfer of Engagements by the required simple majority as follows:

For: 29
Against: 0
Abstentions: 1

The two Boards of Directors will now go forward to obtain the required permissions from the Financial Conduct Authority with a target date of 1 January 2016 to begin operating as one credit union.

The thanks of both Boards of Directors are extended to all members who attended the Special General Meetings.

18 November 2015 Proposal for Merger

At the Special General Meeting held at Welcome Hall, 4 Fore St, Plymouth PL1 4DN, Members of HOPE Credit Union voted to confirm the merger resolution passed on 18 November by the required simple majority as follows:

For: 22
Against: 0
Abstentions: 0
No vote cast: 1

4 November 2015 Proposal for Merger

At the Special General Meeting held at Welcome Hall, 4 Fore St, Plymouth PL1 4DN, Members of HOPE Credit Union voted in favour of a merger by Transfer of Engagements to the City of Plymouth Credit Union by the required majority of 2/3 as follows:

For: 21
Against: 1
Abstentions: 6
No vote cast: 1

13 October 2015 Proposal for Merger

HOPE and City of Plymouth Credit Unions are proposing to get together. We both see this as the best way of combining our talents and providing the best possible service to all of our members. Combining will enable us to offer a broader range of products to our members, help to drive down our costs and enable us to look at modernising the IT platform we use. If you're an adult member of HOPE, you will be contacted by post with the full details. You can also see them here.

If you're a member, come along to the meetings being held at Welcome Hall in Devonport on 4 November and 18 November 2015 at 7pm and help shape the future of your credit union.

3 July 2015 FSCS Compensation Limit Changed

One of our regulators, the Prudential Regulation Authority (PRA) who are responsible for the Financial Services Compensation Scheme (FSCS) has informed us of a change in compensation limits, see their press release. None of our member's accounts will be affected by this change, but we are passing the information on as a courtesy and as required by the PRA.

This change means that the maximum amount covered by the FSCS has dropped from £85,000 to £75,000 for the sum of all accounts held by an individual in the credit union. As we are limited to a maximum of £15,000 per member by other rules, no member will be affected.

24 June 2015 Prepaid Debit Card Now Available

Hope Credit Union is proud to announce that we are introducing a low-cost prepaid debit card for use by members.

This enables members to have Share Withdrawals or Loan Advances loaded onto a VISA Debit Card which can then be used like a normal Debit or Credit card in almost any store.

You can apply for and obtain debit cards from our main office in Union Street, Stonehouse. We can process and load a Share Withdrawal or Loan Advance (after it has been approved) onto a card and you could be using the card in a high street store in a matter of minutes.

For further details, see the ABCUL flyer and application form and for more detailed information, the card-holder's guide.

18 March 2015 Annual General Meeting

This year's Annual General Meeting was held at 7:20pm on 18 March 2015 at the St Budeaux Methodist Church, Victoria Road, St Budeaux, Plymouth. Those attending the meeting voted unanimously for a dividend of 1% as recommended by the Board of Directors. For full details, click here to go to the Annual reports page.

At the AGM several important issues were presented to the members as follows:
  • Those present unanimously agreed that the age at which Junior Savers are automatically elected to become Adult Members should be raised from 16 to 18. At present, members can only vote at Annual and Special General Meetings and take out loans at the age of 18. This consolidates the two ages and brings HOPE into line with many other credit unions.
  • Those present unanimously agreed to appoint Business Systems and Focus Limited as auditor for HOPE in the 2014/15 financial year.

11 November 2014 Schools Financial Education Project

HOPE Credit Union, in partnership with City of Plymouth Credit Union and the Plymouth City Council, are launching an education and finance programme for students across the city. Financed by a grant from Plymouth City Council, this will involve giving a £10 voucher to all year 7 and year 11 students to be used to open a credit union account. We are all very pleased and excited with the outcome of this project with its intention of encouraging financial awareness at an early age and enabling schools to start their own School Banks with the credit unions' help. This is the result of considerable effort on the part of all involved and was ably assisted by Barclays Bank who are also providing some of the educational material.

19 March 2014 Annual General Meeting

The Annual General Meeting was held in the credit union Training Room at 142 Union Street, Stonehouse, Plymouth, at 7pm. Those attending the meeting voted unanimously for the payment of a 1% dividend as recommended by the Board of Directors. For further details, click here to go to the Annual Reports page.

12 October 2013 Expansion to Common Bond

On 11 October 2013, HOPE received confirmation from the Prudential Regulation Authority and the Financial Conduct Authority of its application to increase the area covered by its common bond to the post codes PL1 to PL21. An extract from our amended Rules is shown below:


7.    Admission to membership of the Credit Union is restricted to:

  1. an individual who resides or is employed in the Post Code Districts of PL1 to PL21 as delineated on the attached map
  2. an individual who is a member of the same household as, and is a relative of, an individual who is a member of the credit union and falls directly within a common bond specified above
  3. a body corporate, an individual in his/her capacity as a partner in a partnership, an individual in his/her capacity as an officer or a member of the governing body of an unincorporated association, if the body corporate, partnership or unincorporated association has:
  1. a place of business in the above locality

20 March 2013 Annual General Meeting

The Annual General Meeting was held at the St Budeaux Methodist Church, Victoria Road, St Budeaux, at 7pm. Those attending the meeting voted unanimously for the payment of a 1.5% dividend as recommended by the Board of Directors. For further details, click here to go to the Annual Reports page.

At the AGM several important issues were presented to members as follows:

  • Members unanimously agreed with the proposal to explore an extension to the common bond to enable us to provide services to those outside Plymouth with no or limited access to credit union facilities.
  • Those attending were informed of the decision by the Board of Directors to waive the £2 membership fee from 01 April for all junior savers who, in line with the our and ABCUL/FSA rules, automatically become adult members at the age of 16.
  • Members were informed of a decision by the Board of Directors to increase the administration charge for postal share withdrawal and loan applications to £2 from 01 April as a result of the recent increase in Post Office postage charges.
  • Discussions were held regarding our involvement with the ABCUL/Cornerstone Mutual Services project. For further details, see here.

20 March 2013 Notice of Annual General Meeting

This year's Annual General Meeting will be held at the St Budeaux Methodist Church at 7pm on March 20th 2013. All credit union members are cordially invited to attend. Those attending will be asked by the Directors to approve an increased dividend of 1.5% for the financial year 2011/12.

21 March 2012 Annual General Meeting

This year's Annual General Meeting was held at 7pm on 21 March 2012 in the credit union Training Room at 142 Union Street, Stonehouse, Plymouth. Those attending the meeting voted unanimously for a dividend of 1% as recommended by the Board of Directors. For full details, click here to go to the Annual reports page.

At the AGM several important issues were presented to the members as follows:
  • Those present unanimously endorsed the Board of Director's decision to start charging a £1 fee against members' shares for all postal Loan and Share Applications to cover costs from 1 April 2012. Those made at service points will remain free as at present.
  • Those present unanimously endorsed the Board of Director's decision to charge £5 against a member's shares to cover the costs of writing off a defaulting member's loan from 1 April 2012. This would include costs associated with making referrals to debt collection agencies whenever necessary.
  • The Board of Directors recommended to the members present that the credit union should apply to the Financial Services Authority (FSA) for a change of rules to enable bodies corporate to become members of the credit union as permitted under the The Legislative Reform (Industrial and Provident Societies and Credit Unions) Order 2011. This was carried unanimously.
  • The Board of Directors recommended to the members present that the membership fee charged to all new members should be increased to £2 from a April 2012 as is the norm with other credit unions. This was carried unanimously.
  • Those present unanimously endorsed the Board of Directors decision to charge an annual membership fee of £5 against dormant accounts, i.e., those accounts with no transactions for a period in excess of 12 months, as permitted by Rule 18 of the credit union rules. This charge would only be levied on adult members with share accounts having a balance of £5 or less in the current year. Charges in subsequent years will be determined by the Board of Directors at that time.
  • The Board of Directors sought the views of the members present with regard to phasing out the trading name of the credit union, Plymouth and District Credit Union, and reverting to the former limited company name, HOPE (Plymouth) Credit Union Ltd. This follows remarks made by both current and prospective members regarding the similarity of the trading name to that of the other credit union in the city, resulting in much confusion. The members present endorsed the Board of Directors decision to go ahead with the change.

16 March 2011 Annual General Meeting

This year's Annual General Meeting was held at 7pm on 16 March 2011 in the Hammett Room at St Budeaux Baptist Church, St Budeax, Plymouth. Those attending the meeting voted unanimously for a dividend of 1% as recommended by the Board of Directors. For full details, click here to go to the Annual reports page.

1 October 2010 Two Credit Unions Join Together

Press Release
Hope Credit Union and  Fortress Credit Union are joining together to create a 'new' credit union which will be known as Plymouth and District Credit Union or PDCU.

Following approval by the members for the joining together, the directors of both HOPE CU and Fortress CU are confident that the membership of Plymouth and District Credit Union will grow and the 'new' credit union will go from strength to strength.

This is the third occasion of a coming together and expansion that HOPE has initiated. Firstly, in 1995/6, the steering groups of Heart of Plymouth and East Plymouth came together to form HOPE (Plymouth) Credit Union. Over three years ago, Stonehouse Credit Union joined with HOPE CU to create a credit union covering a still wider area of Plymouth.

The 'new' credit union will cover all of Plymouth and surrounding districts, and will then have the largest credit union membership in the city. Any person who works or lives in the area covered is eligible to apply for membership.

The directors of HOPE CU are proud of the continued growth in the membership of their credit union, and with the hard work of its volunteers ensuring members receive a professional service.

Despite the credit crunch, HOPE CU again demonstrated its continuing viability by producing a surplus at the end of its financial year, and declaring a dividend (interest) for each member - the only credit union in Plymouth to do so.

With the volunteers of HOPE CU and Fortress CU coming together , the members of the 'new' credit union will be able to use the full range of services that will be on offer. With 12 service points throughout the city, a further four in the pipeline and other being considered, people will have easy access to their membership facilities.

HOPE CU has been offering credit union services in concert with its three previous sister credit unions since 1998. Partnership and sustainable growth has been the strategy of HOPE CU, resulting in Stonehouse CU and now Fortress CU joining with HOPE to create one large credit union.

Plymouth and District Credit Union can be contacted via their web site www.hopecreditunion.co.uk, by telephone on (01752) 301871 or by writing to the registered office at 142 Union Street, Stonehouse, Plymouth, PL1 3HL.

24 July 2010 Expansion of Common Bond

HOPE (Plymouth) Credit Union has extended the area it covers to include the whole of the city of Plymouth. This will enable us to provide a better service to those who have asked to join us but who live or work outside the area of Plymouth we presently cover, the Heart of Plymouth and East Plymouth. People have found this confusing in the past. To see the area we now cover, click here.

24 February 2010 Annual General Meeting

This year's Annual General Meeting was held at 7pm on 24 February 2010 in the credit union Training Room at 142 Union Street, Stonehouse, Plymouth. Those attending the meeting voted unanimously for a dividend of 1.25% as recommended by the Board of Directors. For full details, click here to go to the Annual reports page.

24 February 2010 Annual General Meeting

This year's Annual General Meeting will take place at 7pm on Wednesday 24 February 2010 in the credit union Training Room at 142 Union Street, Stonehouse, Plymouth. All members of the credit union are cordially invited to attend.

18 March 2009 Annual General Meeting

This year's Annual General Meeting was held at 7pm on 18 March 2009 in the credit union Training Room at 142 Union Street, Stonehouse, Plymouth. Those attending the meeting voted unanimously for a dividend of 2.5% as recommended by the Board of Directors. For full details, click here to go to the Annual reports page.

18 March 2009 Notice of Annual General Meeting

This year's Annual General Meeting will take place at 7pm on Wednesday 18 March 2009 in the credit union Training Room at 142 Union Street, Stonehouse, Plymouth. All members of the credit union are cordially invited to attend.

27 February 2008 Annual General Meeting

This year's Annual General Meeting was held at 7pm on 27 February 2008 in the credit union Training Room at 142 Union Street, Stonehouse, Plymouth. Those attending the meeting voted unanimously for a dividend of 2.5% as recommended by the Board of Directors. For full details, click here to go to the Annual reports page.

12 February 2008 New Web Site Launched

The new HOPE web site has been launched in order to give our members better access to our services and to enable them to get up to date information. Your feedback on the usefulness of this site will be invaluable as we seek to improve the services we offer our customers.

 


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Registered Office: 142 Union Street, Stonehouse, Plymouth PL1 3HL. Registered Number IP00561C
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. FRN 213688
A Member of the Association of British Credit Unions Ltd (ABCUL)