Hull and East Yorkshire Credit Union (HEYCU), which runs a branch from the Driffield town council offices, has extended its area of operations to allow anyone who lives or works in postcode area YO17 to join and use its services.
Since its formation in 1999, HEYCU has provided savings accounts, affordable credit and banking services to the people of East Yorkshire, and established a network of staffed branches in Hull, Bridlington and Goole.
Volunteer-run contact points also operate in Driffield, Beverley, Withernsea, Holme on Spalding Moor and Wetwang.
Unlike banks and building societies, credit unions have a registered rule book which sets out their relationship with their members, who are both the customers and the owners. One of the rules, known as the common bond, defines who is allowed to become a member.
John Smith, HEYCU’s Chief Executive, explained: “Although the County boundary was the limit of our traditional common bond, the volunteers at our Driffield branch were getting enquiries from people living in the villages as far north as Malton asking to join.
“As regular visitors to Driffield for shopping and other facilities, it was difficult for them to understand why they were not allowed to join our credit union like their East Yorkshire neighbours.
“The good news is that we recently asked our membership to vote for a change of rules at the AGM to allow us to serve the wider area and this has now been accepted by the Registrar. We are looking forward to welcoming anyone from the YO17 postcode areas who would like to benefit from our services.”
HEYCU’s Driffield Branch is at 2-4 Market Walk (Town Council Offices) and opens on Wednesdays and Thursdays. There is also a contact point at Wetwang Community Hall every Tuesday morning. Total membership of the credit union has now reached 10,800 and there are over a thousand junior savers, making HEYCU one of the country’s largest credit unions, looking after members’ funds of over £8 million.