Tel: 0141 222 2259 Fax: 0141 222 2565 Email:

25 July 2017

Spring Newsletter

Our latest newsletter is now available to view online, please click on the newsletters tab to the left of this article.

It contains details of recent events here at Value, including the AGM reports and annual distribution of our surplus to both our savers and borrowers.

Also information on our low cost loans - ideal for covering the cost of annual expenses such as holidays, or for more significant costs such as credit card consolidation and home improvement.

Plus an important message to those employees now, or soon to be, transferring to McColls.

Please contact us for any further information, we will be happy to help.

Engage – Participate - Achieve

The Board of Directors were pleased and proud to host our 28th AGM on Monday 27th February. The meeting was well attended at the office in Glasgow and, for the first time, by members joining online from further afield, including Belfast and Leeds.

Our Auditors, Alexander Sloan, were present to confirm a strong and stable set of accounts which give a true and fair view of the financial strength and reliability of the Credit Union.

Independent & Self-Sufficient

Treasurer, Sally Atwell, confirmed this and the Board’s desire to maintain their independent and prudent approach to management which means the Credit union is not supported by external grants, nor is it reliant on funding to provide the modern, efficient and innovative service to all our members. A service unequalled by our competitors.

First Ever Loan Interest Rebate

Neil McQuade, Chairperson, then reported on the main events of the past year and ended by announcing a distribution of surplus by 0.5% dividend to shareholders and, for the first time ever, a 5% interest rebate to borrowers, unanimously approved by the members.

Neil said that this is “A thank you to our valuable members for borrowing and saving during the year and for trusting us with your financial needs.

Healthy participation is crucial to our success, so the more you borrow the more successful we will be, and hence the greater the return to the co-operative employee community.

We are proud to have helped so many members achieve enhanced financial well-being through saving and getting the things they need using our loans.

We are delighted to continue the co-operative legacy of returning profits back to the members who are actively participating in their Credit Union.

Our ability to offer dividends and now a rebate on a consistent basis without external support and funding is testament to the careful and experienced management.”

Serving the co-operative employee community

In these times of low interest rates, we realise that it is important to uphold the co-operative nature of the Credit Union and to provide a fast, secure and reliable financial service to all our members. We hope our loyal members agree that our experience and consistent management is delivering on this mission and that they will continue to participate to further grow the Credit Union.

The interest rebate and dividend has been paid as deposits into members’ share account(s) dated 27th and 28th February. Please check your account online to see how much you have earned and telephone the office if you require more information or a copy of the financial statements.

A Stress Free 2017

Fed up Paying for the Ghosts of Christmas Past on your Credit Card?

 A loan from Value can take away the stress from clearing expensive credit At this time of year we believe that a loan from Value Credit Union is ideal in helping to clear Credit Card and mail order balances that may have arisen at Christmas. 

 It's easy to apply for a loan, just click on the forms tab at the bottom of the page and submit a loan application. With agreements now signed via e-mail, a Value loan could be yours within 48 hours, often even on the same day.

Remember that the interest you pay on a Credit Union loan is used to improve and support our existing service to members, with any profits returned solely to the membership. There are no outside shareholders or large executive bonuses to pay.

 And with a fixed repayment plan, using the convenience of payroll deduction the stress of trying to reduce expensive credit balances is eased. Plus by saving a small amount each month you will build up savings to help cover the cost of Christmas in future without the need for high cost credit cards.

 Enjoy a stress free 2017 with Value Credit Union, serving Co-op employees for longer than any other Credit Union. Please telephone or e-mail us for any further information.

Latest news offers and events

Our latest newsletter is being delivered this week and is available to view online by clicking the link to the side of this page.

It contains all our latest news and articles including:

How we support Co-op stores and their employees

How our members can invest in this Co-op community

Opportunities for Personal Development

A £50 prize competition

How to cover the cost of your family's festive celebrations by applying for a low-cost loan.

Please contact us for more information, especially If you do not receive the newsletter in the post as we may not have your up-to-date home address on file.

Newsletter - Out Soon

The latest newsletter from Value Credit Union will be sent to our members early in February.  An online copy is available by clicking on the Newsletters tab to the left of this article.

Contents include:

£20 cash reward available to existing members each time they introduce a colleague

Notification of our AGM on 29th February

Announcement of yet another 2% dividend to our members

Many more articles and information on our exclusive offers and services

Play a Bigger Part in Your Credit Union

You’re already a member of the most established credit union for co-operative employees in the UK. So you’ll know about the straightforward savings and competitive tailored loans that you can enjoy through Value Credit Union (VCU).   

You probably also know that VCU is owned and run by its members. Members just like you. They’re known as volunteers, and they play an integral role in making VCU the highly successful co-operative that it is.

In the current financial climate, we’re seeing more demand for our service than ever. That’s why we’re looking for volunteers so that VCU can continue helping more people benefit from simple savings and low-cost loans.

Why become a volunteer?

Becoming a volunteer is a fantastic opportunity to learn more about the wider credit union movement, and get to know an enthusiastic and friendly group of likeminded people.

By giving just a few hours per month of your time, you’ll gain a lot in return. Helping to deliver a well-run and successful credit union, you’ll be part of the team that provides a quality service to our members, many of whom depend on the financial services we provide.

You’ll have the chance to be part of the decision-making process for the VCU at board meetings. If you wish, you could also be elected to join the board and attend all-expenses-paid training workshops, where the skills you learn could add great value to your CV.

You could also decide to join the many volunteers who play an active role in their workplace, encouraging colleagues to become members by talking to them about the many benefits of VCU. 

What experience do you need to be a VCU volunteer?

You don’t need any qualifications to become a volunteer with VCU. Willingness to get involved, enthusiasm to make a difference, and the ability to put forward your views and opinions articulately would be an advantage.

Whatever your experience, we’ll provide training if you want it, and support will always be on hand to you from other volunteers.

Help us take VCU even higher

So if you’re interested in helping to take VCU to new heights, apply today to become a volunteer. All you need to do is call us on 0141 222 2259 or email .

We value all volunteers, and we are sure that you’ll feel rewarded and fulfilled by playing an even bigger role in Value Credit Union.

Mary’s Meals

Following Value Credit Union’s Annual General Meeting on Monday 10th November, members have selected Mary’s Meals as the charity to receive the funds raised through our International Credit Union Day incentive. Value Credit Union has pledged to donate £1 per new Value Credit Union Mobile App registered up to31st December.

Mary’s Meals is a global movement which sets up school feeding projects in some of the world’s poorest communities, where hunger and poverty prevent children from gaining an education. In 2002 Mary’s Meals, known then as Scottish International Relief, began by feeding 200 children in Malawi. Now they feed over 920,000 children every school day in Africa, Asia, the Caribbean, Eastern Europe and South America.

For every £1 donated, Mary’s Meals commit to spending no more than 7p on running and governance cost, leaving 93p to spend on feeding children. Keeping their running costs as low as possible ensures that the majority of donations is reaching those in need. £12.20 will provide a child with a daily meal at school for a year.

The Value Credit Union app is free to download and is available on iPhone, Android, Blackberry and Windows.

2014 Dividend

Value Credit Union’s Board of Directors are delighted to announce another dividend of 2% to all shareholders, as agreed by members at the Annual General Meeting held on Monday 10th November.

The dividend has now been credited to your Credit Union account and should appear on your statement dated 14th November. Just like normal bank interest, this is calculated using your average share balance over the year to 30th September 2014. We hope our members will agree that this is a competitive rate and reflects the sound management and stability of the Credit Union, providing peace of mind to all our members that their accounts are being managed responsibly.

If you have any queries or would like to see the annual reports discussed at the AGM, please contact the office on 0141 222 2259.

International Credit Union Day

International Credit Union Day is celebrated annually on the third Thursday in October. To celebrate this and the success of our new and exclusive mobile app, Value Credit Union will donate £1 to charity for every new app user registered between 16th October and 31st December.

To download our new and exclusive mobile app visit your app store on your smartphone and search “Value Credit Union”. Click on our blue and white app logo and select install. Once installed you will be required to register for mobile access, this is not the same as online access so you will still need to complete the registration form even if you have registered for online access. To register you will need your member number, this is not your employee number and will not be longer than 5 digits, if you have forgotten your member number please contact the office.

The Value Credit Union app allows members to access their account information on the go. Members can view account balances, recent transactions, request share withdrawal, apply or a loan and amend their payroll deductions all from their smartphone. Combined with our improved same day bank transfers, the mobile app makes accessing your savings even quicker.

The charity will be chosen at the upcoming AGM by members. The Annual General Meeting will be held on Monday 10th November at 5.30pm at Value Credit Union’s office in Glasgow. A light buffet and drinks will be provided for any member wishing to attend, please let us know if you are interested.

Value Credit Union Mobile App

Value Credit Union is thrilled with the response to our new and exclusive mobile app. We currently have over 500 members actively using the app. The app launched officially on the 31st July 2014, the office was inundated with app requests, highlighting the growing demand in new technology.

The Value Credit Union app is available on iPhone, Android, Windows and Blackberry. To download the app simply visit your phone’s app store and search Value Credit Union. The registration process is easy and straightforward to complete, all you need is you member number to begin.

Security is at the forefront of everything we do, with this in mind we have ensured all passcodes are encrypted assuring maximum security. Members will be asked to input the passcode every time they log in. To maximise security further we have designed app specific forms, members will not be able to change any personal details using the app, including bank details. Bank transfers will be processed using details currently stored with the Credit Union which have been used in a previous transaction.

For secure mobile access to your Credit Union accounts, faster responses to requests and to receive personal notifications download the app today or contact the office for further information.

Mobile App Launch

Value Credit Union is pleased to announce the launch of our exclusive Mobile App. The app is now available for download on iPhone, Android, Windows and Blackberry.

Using the app will allow members to view their accounts on the go, showing balances and the last 5 transactions made on each account. Members will have access to simple share withdrawal, Loan application and payroll amendment forms. You will receive personal notification up-dates on the progress of all requests. If you can’t find what you are looking for you can always call the office with just a touch of a button, or email straight from your mobile.

To download the app simply visit your phone’s App Store and search “Value Credit Union”. Scroll down until your find our app logo.

Once the app is installed onto your phone you will have to register for Mobile Access, this is not the same as your on-line access to the website. All members wishing to use the app will have to register, all you need is you membership number to get started, and then follow the on-screen instructions. Please allow up to 1 working day for your request to be accepted. Requests are checked manually within the office, this is to ensure member security is maintained at all times.

An important feature is the instant response service, keeping you fully informed of the progress of any transaction requests or applications, so we recommend that you ensure you have notifications enabled on the App.

We also understand that security is a key concern for members when using mobile or internet banking. For this reason it will not be possible to alter personal details or bank account numbers using the app, nor will the app monitor your mobile phone activity. All account data is fully encrypted and password protected.


December Payroll Deduction

We are pleased to confirm your December payroll deduction has now been credited to your Value Credit Union savings account.

Merry Christmas from everyone at Value Credit Union.

Christmas Opening Hours

The Office is open Monday – Friday 9am-4.30pm, with the following exceptions:

Tuesday 24th December - 9am-1pm

Christmas Day                   - Closed All Day

Boxing Day                          - Closed All Day

Friday 27th December      - Closed All Day

Monday 30th December   - 9am-1pm

Tuesday 31st December  - 9am-1pm

New Years Day                  - Closed All Day

Thursday 2nd January      - Closed All Day


Following a well-attended Annual General Meeting held at the Credit Union offices in Glasgow on Monday, the Board of Directors is pleased to announce a 2.5% dividend has been paid into the share accounts of all members.

Value Credit Union is the longest running Credit Union for employees of the Co-operative Group, and the 2.5% dividend payment marks a fitting end to our 25th Anniversary year.

Treasurer Neil McQuade said “We hope that not only will this be seen as a reward for the loyal support from our members over the past 25 years, but as a reflection of the sound performance of the Credit Union and the strong foundation that has been built up thanks to prudent financial management.”

Annual General Meeting

This year our Annual General Meeting will be a celebration of our 25 years of valued service. As a mutual financial co-operative all members are part-owners of the Credit Union. The AGM is your chance to hear more from the Directors about the progress and future plans.

The AGM will be held at 6pm on Monday 25th November in our Glasgow City Centre offices.

Value Credit Union

5th Floor

52 St Enoch Square


G1 4AA


A light buffet will be provided before the meeting allowing members time to chat informally to the staff and Directors.

If you are interested and able to attend the AGM or require a copy of the annual accounts and year end reports please contact the office.

The Big Depot Tour

Value Credit Union will be celebrating our 25th anniversary in 2013. We are keen to celebrate this milestone with The Co-operative and their staff. With this in mind and with the help of Fiona Lee (Engagement Officer for The Co-operative) we set off to tour the UK and The Co-operative food distribution depots.

Armed with freebies and cake we will arrive at 10 of The Co-operative depots. Encouraging staff to get excited about the Credit Union and hopefully answer any questions they may have. We will be at the following depots:

  • Avonmouth - 16th May 2013 10am-4pm
  • Andover - 17th May 2013 10am-3pm

  • West Thurrock - 20th May 2013 10am-3pm

  • Huntington - 21st May 2013 9am-12pm

  • Cardinal - 21st May 2013 1pm-4pm

  • Coventry - 22nd May 2013 10am-4pm

  • Castlewood -23rd May 2013 10am-4pm

  • Lea Green - 24th May 2013 10am-3pm

  • Birtley – 30th May 2013 10am-3pm

  • Newhouse- 31st May 2013 10am-4pm

If you are a staff member or employee at any of these depots please take the time to come and chat to one of our Directors or Amanda (Marketing Officer for Value Credit Union) and help us eat cake!

We look forward to seeing you.

Dividend payment

2% Dividend Paid to all Members

At our Annual General Meeting on Monday 19th November the Board of Directors were delighted to announce yet another 2% dividend to all shareholders, marking another profitable year for Value Credit Union.

The payment is calculated in exactly the same way as bank interest, being 2% of your average share balance for the twelve months to 30th September 2012.  This has been credited to your account and will show on your online statements dated 22nd November.

The dividend is a clear reflection of the financial strength and stability of a Credit Union.  The Board is proud to have paid at least 2% to shareholders every year since 1994 and we hope the shareholders are equally pleased to be members and part-owners of this independent, secure and successful financial Co-operative.Copies of the Annual Reports are available, please contact the office.

New Web-site Launched!

Value Credit Union has launched our new website today. Visitors will notice the new layout and modern graphics as well as all the information they need with just a few simple clicks. Have a quick look at the different pages and read up on our saving and loan accounts.

We have made it simpler to join and apply for a loan online. With our new online application forms employees of The Co-operative are just a click away from sharing the exclusive benefits we have to offer. Great care has been taken to ensure that all online members still have 24 hour access to their accounts. Simply enter your member number, 4 digit PIN and date of birth and you will be prompted to create your own 6 digit PIN and password for added online security. Don’t worry once you have completed this you will be taken straight to your account balances and have access to online loan application, share withdrawal and even amend your payroll deduction.

Registering for online access couldn’t be easier, you no longer have to request a PIN and wait for this to be sent out. Members can now assign their own PIN and password to their accounts and all they have to do is wait on a confirmation email and their online account will be activated.

We have added a feedback page to encourage our members to tell us what they would like to see advertised or reported on our website and would love to hear your views on the new website. We also have a dedicated Volunteers page to highlight the roles available. As a financial Co-operative we are owned and run by our members and we encourage everyone to have a look and get involved. No role is too small but all are equally important!

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VALUE Credit Union | 5th Floor, 52 St Enoch Square, Glasgow, G1 4AA | Tel: 0141 222 2259 | Fax: 0141 222 2565 | Email:
Value Credit Union (213959) is authorised by the Prudential Regulation Authority. Regulated by the Financial Conduct Authority & Prudential Regulation Authority.