Member referral scheme for payroll savers and borrowers

As the strength of a credit union relies on the support of the local community, whether it’s where you work or live, we are on a mission to grow our credit union. On that note, we would like to introduce our M for Money Credit Union referral scheme.

About the referral scheme

If you refer a colleague and they take an introductory loan of up to £2000, which is payable over three years, you and your colleague will both receive an additional £100 to your account.

How it works:

Step 1: Your colleague needs to complete the Joining and Loan forms. They would then have to email the forms to admin@m4mcu.org.

Step 2: You would also need to complete the Loan form with the referee’s name in the ‘Promo Code Box’ on the Loan Form. This cannot be added after the form has been received. Once completed, email the form to admin@m4mcu.org.

Step 3: If your colleague then goes ahead and takes the introductory loan, we will email you both confirming that you’ve qualified for the referral bonus.

You can refer as many colleagues as you wish.

Ts&Cs apply. *

Three reasons why your colleagues should join the M for Money Credit Union:

  1. We are a not-for-profit so your money is safe
  2. We have low-interest rates therefore when you borrow a loan, you are also saving money
  3. All savings up to £85,000 per member are guaranteed by the Financial Services Compensation Scheme.

We look forward to having your colleagues on board.

February newsletter – M for Money Credit Union

Some of the topics covered in this February’s newsletter include:

  • Details of Annual General Meeting which takes place on Thursday, 26 March 2020
  • More information about Just Borrow and Open Banking
  • Pointers for ensuring a successful loan application
  • A few ideas on how you can celebrate Pancake Day
  • Money-saving tips: Beat the winter

Download February newsletter

Annual General Meeting 2020

We would like to invite all members and supporters of the M for Money Credit Union to attend our annual general meeting (AGM) on Thursday 26 March 2020 at 6.30 pm. It takes place at Uxbridge College Park Rd, Uxbridge, UB8 1NQ.

This is our opportunity to report back to you as the board as well as get your approval on matters as new board members and a proposal from the Board that we should pay a dividend.

Agenda for the AGM 2020
Minutes of the 2019 AGM
Financial Statements 2019

We look forward to seeing you there.

Manage your money and reach your financial goals

We recently came across the MoneySkills app which was created by researchers from the Centre for Business in Society (CBiS) at Conventry University. The app combines practical tips and step-by-step guides to help you manage your money and reach your financial goals. It has the following features:

• Goals tool that will help you set and track your financial goals
• Ezines that are short and easy to read
• Explainer videos that will teach you how to budget, set goals, save money and more
• Interactive budget planning tool

What’s more this app is FREE and is available to download from the App Store or the Google Play Store.

For more information, you can visit their website.

What is Open Banking?

Open Banking allows lenders like credit unions to see your bank statements without requiring photocopying and emailing them. As ever you can opt out of providing statements this way however Open Banking will make the assessment of applications much quicker.

Members wanting faster decisions know that we need to see everything that might impact on our decision and Open Banking provides the ability to easily look at all bank statements online.

Watch the video below to find out more about Open Banking.

(Source: Open Banking)