Celebration of achievements

1
Working for Financial Inclusion

• Celebration of achievements
• 1999 - 2005

2
THE VISION

• Fair Finance for All alternative local banking
  universally available
• An even playing field
• A financially inclusive society
• Helping to build community

3
Past, present, future

• Past
• 1999 Development Agency formed work began in
  preparation for the set up of credit unions
  throughout the Essex East London and into the
  Eastern region.
• 3 years employed a development worker
• netCUDA worked in
• Southend
• Havering
• Colchester
• Waltham Forest
• three have since been authorised as credit union

4
Past, present, future

• Present
• Developed netCUDA model credit union a model
  for 21st Century
• More than a credit union - local financial
  services, all that is needed in each community
• Using IT to enable services to be provided
  universally across a large area
• Have first netCUDA model authorised for Essex
  county and starting business to bring services
  throughout the county, Essex Savers net Credit
  Union Ltd

5
Model Credit Union

• FSA Compliant
• Mainstream service
• Banks
• Building Societies
• Credit Unions
• Universally accessible
• Sustainable
• Central Administrative HQ

6
Model
Credit Union

• Large common bond area
• County
• Large borough
• Access to Advice
• Access to Education
• More than a credit union - a
• one stop shop - Community Financial Services,
  accepting welfare benefits, pensions, etc.
• offering insurances mortgages
• plus a CDFI (for businesses)

7
Model Credit Union

• Universally accessible
• - through a network of
  collection points
• Full time Community Branches/Collection Points
• Regular part time collection points in hosted
  premises
• Libraries
• Universities, Colleges and Schools
• Co-operative Stores
• Local Authority rent and council tax offices
• Housing Association resident facilities or rent
  offices
• Community/Church Halls
• Day Centres/Clubs/Residential Homes
• - through employers offering Payroll
  Deduction

8
netCUDA Model Credit Union
HEAD QUARTERS

Community Branches
Community Branches
Collection Points
Sub Collection Points

9
Model Credit Union
Benefits

• Wider services possible
• Variety of Savings accounts
• Membership
• Junior membership
• Holiday/Christmas
• Budget
• Greater access to services
• Deposit in through network of collection
  points
• PayPoint/P.Os
• Withdraw through ATM if no bank account
• Internet Banking

10
Past, present, future

• Present (cont)
• Development Groups setting up netCUDA credit
  unions for
• Redbridge
• Barking Dagenham
• West Kent
• There is interest from
• Ashford, Cambridge, Sussex , Oxford.
• We are working with
• Ipswich to extend throughout Suffolk
• Southend application to the FSA
• Training developed own training for Management
  Committees and collection point volunteers.
  Working with
• Essex, including Harlow and Southend
• Suffolk
• London Boroughs of Redbridge and Barking
  Dagenham

11
Past, present, future

• Future
• expand the geographical area of our work, ie. Set
  up/develop netCUDA model credit unions throughout
  the South East, East and London regions
• offer the model more widely and support those
  wanting to use it across the UK
• Set up a back office in partnership with Fern
  software providers that will be available to any
  credit union in the UK.

12
netCUDA Back Office ABACUS
National influence
13

• netCUDA Back Office using ABACUS

• ABACUS provides back office IT system for
  credit unions providing required Management and
  FSA reports
• Set up and being piloted for Essex Savers
• Remote access at collection points through the
  internet giving member information, including
  photographs and enabling transactions online
• Constant back up and continuous power
• Server able to provide service across UK

14
National Influence

• National Government Departments/Ministers
• HM Treasury (Financial Inclusion Taskforce),
  DWP, DTI, Regional Government Offices and MPs
• Local authority elected representatives/office
  rs
• Regional Development Agencies EEDA
• Conservatives Debt Commission
• Church- national, regional and local and CAP
• CVS and CABx (national and local)
• Banks

15
Working for Financial Inclusion

• How can you become involved?
• Join netCUDA Board
• Offer your skills as a member of our
• Board of Reference
• Join one of the Management Groups
  setting up and running a
• netCUDA credit union