Ways to manage your group's money.

1. CREDCER Credit Union
Cyflwyniad
Presentation
Cris Tomos -Volunteer Board Member
CREDCER

2. Credit Union Statistics
United Kingdom – Approx 681 credit unions
• Approx 400,000 members
• Approx £200 million in assets
Wales – 31 credit unions
• 37,500 members
• £12.7 million in savings
• £39.1 million has been loaned out
Worldwide -
• Approx 200 million members

3. CREDCER Credit Union
• Interreg 111A Project 2003
• CREDCER Launched 2005
• Today has 1822 members (May 2012)
• £487,000 of savings
• £148,000 out on loans
• £128,325 Children’s savings
• 1.5% return to Children & Child Trust
Fund
• Can help individuals with community
projects

4. Members & Board of
Directors
All Volunteer Board Members.
Junior Savers – The future is in their hands

5. UK Policy Context - Local
Government Association
”Credit unions can also play an
important part in the social
regeneration and economic
development of communities…
Credit unions can be very useful
tools for meeting some of the key
policy challenges facing local
authorities.”

6. Welsh Government
Wales Policy Context
Putting Wales First: A Partnership for the
People of Wales
“We will develop a strategy for the
encouragement of credit unions, as a
means of promoting local economic
development and of providing access to
financial services for those currently
excluded from them”.

7. What is a Credit Union?
• A self-help, not-for-profit financial
co-operative
• Mutually owned and democratically
controlled
• Members savings provide a pool of funds
to make low-cost flexible loans to other
members
• Directed by volunteers
• Members share a common bond of
residence, employment or association

8. How Do Credit Unions
Work?
• Members save regularly to create a
central pool of funds
• Members borrow from the pool at low
interest rates
• Interest from loans & savings pay for
the running costs
• Balance of surplus is returned to the
members in the form of a dividend

9. Services and Benefits for
Individuals/Members
• Access to secure savings and low cost
flexible loans
• Free Life Insurance benefits
• Convenience of payroll deduction if
agreed by employer
• Added value products
• Peace of mind that savings are secure
• Tackling financial exclusion

10. Benefits for Communities
• Access to local regulated financial
services
• Generation and retention of
wealth
• Access to micro credit
• Social Enterprise Funds (Shares)
• Collection point in each street!
• Gateway to skills & learning

11. Reaching out to Young
People & Communities
• Establish a Collection Point in the
community or local school
• Publicise the credit union within the
school & community
• Seek office space for the credit union
• Encourage individuals to act as credit
union representatives in the
community

12. Resources for Young
People to start a new bank
• Training and development
• Adult volunteers to oversee
• Starter Pack with forms and guide
• Publicity guide for schools to inform
parents
• Regular communication on numbers
and statistics

13. Cymdeithas Cynnal a
Cefnogi Cefn Gwlad - 4CG
Aberteifi / Cardigan

14. Cefndir yn 2010
Background in 2010
•Siopau bach yng nghanol y dref yn cau
•Safle Pwllhai yn wag ac yn hyll
•MODUS wedi mynd i ddatodiad
•Land Searches yn dangos fod MODUS wedi talu dros £530k
•Pobl leol yn dymuno ceisio prynu’r safle
•Small town centre shops were closing
•Pwllhai site was empty and an eyesore
•MODUS gone into liquidation
•Land Searches showed that MODUS had paid over £530k
•Local people wish to try and buy the site.
www.4cg.org.uk

15. Gorolwg * Overview
• Gymuned yn prynu Pwllhai purchased by
community
• Nid er elw * Non profit making society
• Parcio Rhatach * Cheaper parking (phase 1)
• Ail agor hen siop * Re-open old Co-op shop
•Siop Gymunedol * Community shop ( phase 2)
•Cynhadledda llawr uchaf - Upper floor
conference area (phase 3)
• Parcio ar gyfer datblygiad y Castell *
Parking for castle development (phase 3)

16. Trosolwg o’r Safle
Overview Site Plan

17. Ariannu Cymunedol * Community Finance
Cyfranddalwyr * Shareholders :
• £250,000 @ £200
• £20,000 max / person
• 1 bleidlais * 1 voting share
• Difidend gyda pob shâr *
dividends for each share.
• Cyfranddalwy yn ethol pwyllgor *
Committee appointed by
shareholders
•Benthyciadau Credcer 5
mlynedd-fforddadwy i bawb
*Credcer 5 year loans to
purchase shares - affordable to
everyone

18. Cyllid Cymuned a Taclo Tlodi Plant
Community Finance & Tackling Child
Poverty
CEFNOGI & CREDIT UNION
Ariannu mentrau cymunedol
newydd ~ Financing new Social
Enterprises
www.credcer.co.uk

19. Cyfnod 1 – Datblygu
Phase 1 - Development
Cymorth gan Ganolfan Gydweithredol Cymru i sicrhau
cymorth Jim Brown o Fryste i gynghori ar y model gorau a
phrospectws cyfranddaliadau.
Assistance from Wales Coop to engage Jim Brown of Bristol
to advise on best model and share offer prospectus.
IPS model. Community Benefit Cooperative

20. Cyfnod 1 – Datblygu
Phase 1 Development
•Prynu Pwllhai am £357k Paid for Pwllhai site
•Benthyciad gan Lloyds TSB £180k Lloyds TSB loan
•Caniatad Cynllunio Planning permission for parking
•Clirio’r safle ar gyfer parcio Clear site for car parking
•Cyflwyno peiriannau parcio Install parking meter(s)
•Llogi’r Bwthyn Rent out cottage
• Cyflogi swyddog parcio Employ car park attendant
•Datblygu’r Siopau Develop the shops
•Sefydlu is-bwyllgorau newydd- New Sub Committees –
deunyddiau adnewyddol, Renewables, marketing,
Marchnata, Siopau Shops.

21. Cyfnod 1 – Trosiant
Phase 1 - Turnover
Amcangyfrif ceidwadol Amcangyfrif Gobeithiol
30c / awr (ar gyfartaledd) 30c / awr (ar gyfarftaledd)
Llenwi 25% o’r cyfnodau Llenwi 75% o’r cyfnodau
30 x 8 awr x 100 cyfnod x 25% = £80 30 x 8 awr x 100 x 75% = £240
£480 yr wythnos x 6 diwrnod £1,440 x 6 diwrnod
Trosiant 51 wythnos = £24,480 Trosiant 51 wythnos = £73,440
Trosiant y Bwthyn = £2,600 Trosiant y Bwthyn = £5,200
Cyfanswm Trosiant = £27,080 Cyfanswm Trosiant = £78,640
Low End Projection :- High End Projection :-
30p per hour. (average) 30p per hour (average)
25% occupancy of each slot 75% occupancy of each slot
40 x 8 hrs x 100 slots x 25%=£80 a day 40 x 8 hrs x 100 slots x 75%=£240 a day
Per week = £480 (6 day week) Per Week = £1,440 (6 day week)
Turnover for 51 weeks = £24,480 Turnover for 51 weeks = £73,440
Turnover of cottage £2,600 Turnover of cottage £5,200
Total turnover = £ 27,080 Total turnover = £78,640

22. Cyfnod 1 – Datblygu
Phase 1 - Development
Amcangyfrif ceidwadol Amcangyfrif Gobeithiol
Trosiant £27,080 Trosiant £78,640
Costau (£7,500) Costau (£7,500)
Difidend 2.5% ar £217k (£5,425) Difidend 7.5% ar £217k (£16,275)
Costau Lloyds TSB (£13,000) Costau Lloyds TSB (£13,000)
Elw £1.155 Elw £41,865
Low End Projection :- High End Projection :-
Turnover £ 27,080 Turnover £78,640
Costs (£7,500) Costs (£7,500)
2.5% dividend on £217K (£5,425) 7.5% dividend on £217K (£16,275)
LloydsTSB Loan costs (£13,000) LloydsTSB Loan costs (£13,000)
Retained profit = £1,155 Retained profit = £41,865

23. Cyfranddalwyr a Gwirfoddolwyr
Shareholders and Volunteers

24. Cyfnod 2 & 3 – Datblygu
Phases 2 & 3 - Development
•Ceisio am grantiau datblygu
•Sefydlu Siop Gymunedol
•Uned ar gyfer bobl busnes lleol, ffermwyr,
pysgotwyr ayyb
•Canolfan Gynadledda – sawl llawr
•“agoed i syniadau newydd” – y cyfranddalwyr
•Apply for development grants
• Setup Community shop
• Outlet for local businessmen, farmers, fishermen,
growers, artists etc
•Multi – storey : Conference Area
• “Openness to new ideas from local people” – the
shareholders

25. Marchnad
Cynnyrch
Lleol
25 Stondin
Local
Produce
Market
25 Stalls

26. The Future is in our hands.
Diolch – Thank You
Cris Tomos – Voluntary Treasurer