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HEY Credit Union now open in North East Lincolnshire

10:04 am, Friday, 17th December 2021 - 2 years ago


HEY Credit Union, the not-for-profit community bank serving people who live or work in the Humber Region, has opened a new branch in North East Lincolnshire.

Open to anyone in the area to join, the Credit Union provides safe and handy savings accounts for the whole family, and affordable, responsible credit solutions for people looking to spread the cost of a major purchase, or smooth the ups and downs of family budgeting.

The plan is for the branch to be within Grimsby Central Library. However, as it is currently closed for building works, the Credit Union team – comprising Quinn Needham and Sally Johnston – is based at Cleethorpes Library, opening every Tuesday, Wednesday and Thursday from 10 am to 2 pm. They are also at Freeman Street Market (the Courtyard) every Friday morning.

Among HEY Credit Union’s most popular services are a Family Benefit Plan and a Christmas Saver account, which helps people to plan ahead for the festive season by locking savings safely out of temptation’s way until November. Loans can also be applied for, from £100 up to £20,000, depending on affordability, for a wide range of purposes.

For a limited period, anyone joining the Credit Union in North East Lincolnshire will qualify for a £25 bonus, provided by the Stop Loan Sharks team, when they make three savings deposits and keep the account open for at least six months. All savings are protected by the FSCS, in the same way as bank and building society deposits.

John Smith, HEY Credit Union’s CEO, explained:

“We already have around 230 members in North East Lincolnshire that we serve online but, for some time, we’ve been looking to provide a walk-in branch in Grimsby town centre where we can meet people face to face. Now, thanks to our partnership with Lincs Inspire, we are able to do this through the local libraries. With many of the big banks closing branches, we feel it is even more important for credit unions to provide a friendly, personal service at the heart of the community.

“As a Credit Union, we are owned by our 15,000 customer-members and operate entirely for their benefit, and so we’ll be listening to their needs, consulting them and working hard to make our local branch as successful as those in Scunthorpe, Hull, Bridlington, Goole, Driffield, Beverley and Withernsea. We are really excited about building a long-term relationship with the people of North East Lincolnshire.”

Credit unions work in partnership with a range of organisations to deliver benefits for the community. In its Social Impact Report 2020, HEY Credit Union was estimated to have saved the people of the Humber Region at least £20 million in interest charges over a 21 year period, by providing credit at lower rates than other providers, such as doorstep lenders. In this year’s Consumer Credit Awards, they were voted national Treating Customers Fairly Champions, a major achievement for a community-based organisation.

Cllr Ron Shepherd, the Portfolio Holder for Safer and Stronger Communities, commented:

“This partnership is a perfect example of how organisations can work together for the good of the community of North East Lincolnshire. A wide range of local people and families are set to benefit from HEY Credit Union services and as a council we support and welcome its arrival here.”

Sue Wells, Lincs Inspire Chief Executive, said

“Libraries are easily accessible and provide a welcoming community space for residents to discover more about the HEY Credit Union services. Their purpose it to help people to improve their financial stability and build a better quality of life, so our objectives, based in improving community wellbeing are closely aligned. We look forward to this partnership and seeing HEY customers in our libraries.”

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