Member Update Annual General Meeting 15.03.24

Member Notice –

We just wanted to update you on some of the changes that were voted through at our Annual General Meeting on Friday 15th March 2024 and thank you to all members who were able to attend.

Membership Fee: Due to the cost-of-living crisis and rising costs being faced by many including your local credit union, it was agreed that the annual membership fee would be increased from £5 annually to £1 per month starting in October 2024. In the last 8 years we have not increased our annual membership fee and the decision to increase this year was not taken lightly.

Joining Fee: In alignment with our effort in tackling rising costs, it was agreed that the joining fee will be adjusted from £5 to £6. This change will come into effect on Tuesday 2nd April 2024.

Free Life Savings Protection Insurance (LPLS): LPLS is a free service in which Right Way Credit Union provides to members and their family in the unfortunate event of your passing. In the past year we have seen a 40% increase in the cost of providing this service to our members. Due to the increased costs, we have had to make some adjustments. As a member savings up to the value of £3000 are covered and £15000 in loans. For more information on this free service and for terms and conditions please click here

Transfer of Engagement Request: We are pleased to announce that the ‘Transfer of Engagement’ request from Port Glasgow Credit Union has been approved by members. The transfer will happen later in the year, further strengthening our credit union and expanding opportunities for our members.

If you have any questions about any of the information in this email, please contact our office where one of our team will be on hand to help.

When we re-open after the Easter weekend on Tuesday, Tail O’ The Bank Credit Union will have completed their transfer into Right Way Credit Union. The transfer will see our credit union now serve over 11,000 people across the West of Scotland. The transfer will bring exciting new opportunities as well strengthening the robustness of our credit union so that we can better support YOU, our members.

Finally, thank you for your continued support and membership – we’re excited to see what our future brings.

Warm Regards,