News
'I didn’t want to tell anyone I was claiming benefits'
October 15, 2020
The coronavirus pandemic has seen record numbers of people claiming Universal Credit - but a poverty charity says its research shows the stigma around being on benefits has increased.
In the first three months after lockdown, there were 3.2 million new applications for Universal Credit.
But while the virus' economic consequences have been far reaching and unprecedented, research from the poverty charity Turn2Us has found that the stigma around claiming benefits has become more pronounced.
Covid-19: Government launches £238m scheme for jobseekers
October 04, 2020
Jobseekers will be offered coaching and advice on moving into "growing sectors" as part of a £238m employment programme, the government has said.
Puppy prices soar during coronavirus lockdown
September 17, 2020
The price of puppies has more than doubled during lockdown with dogs costing almost £1,900 on average.
Popular breeds have seen even sharper price increases, and puppies are often selling for £3,000 or more, according to a leading online marketplace.
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Furlough 'must be extended' to avoid mass unemployment, say MPs
September 10, 2020
The UK government should consider a targeted extension of its furlough scheme, MPs have said.
WILL A HEATWAVE KILL OFF OR SLOW DOWN CORONAVIRUS?
August 12, 2020
As temperatures rise across the UK throughout August, many people will likely be spending more time basking in the sunshine.
Coronavirus: Face masks and coverings to be compulsory in England's shops
July 19, 2020
Wearing a face covering in shops and supermarkets in England is to become mandatory from 24 July.
Those who fail to comply with the new rules will face a fine of up to £100, the government has announced.
Health Secretary Matt Hancock said it would "give people more confidence to shop safely and enhance protections for those who work in shops".
The move will bring England into line with Scotland and other major European nations like Spain, Italy and Germany.
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What is dexamethasone? The coronavirus treatment proven to reduce the risk of death
June 15, 2020
Scientists have made the "biggest breakthrough yet" in the fight against coronavirus.
All the things changing in April - including Universal Credit, prescriptions charges and driving tests
March 30, 2020
There will be new laws coming into effect in April that we should all be made aware of as we can all be affected in one way or another.
Coronavirus support for employees, benefit claimants and businesses
March 13, 2020
A range of extra support and measures will be in place to help workers, benefit claimants and businesses affected by coronavirus.Following announcements in the Budget, the Department for Work and Pensions is making temporary arrangements to support those impacted by coronavirus. For more information CLICK HERE
When her oldest daughter left home, Audie had to go part-time in order to be there for her two younger children after school. Previously, she'd made ends meet by working long and unsociable hours. Now she was sinking into debt - and at first there didn't appear to be a solution..... Click here for the full story
February 05, 2020
Taking the time to manage your money better can really pay off. It can help you stay on top of your bills and save £1,000s each year. You can use these extra savings to pay off any debts you might have, put them towards your pension, or spend them on your next car or holiday. Read on for money management tips, including how to set up a budget, sticking to it and how to save.
What is APR and How Does It Work?
November 21, 2019
What is APR?
Annual percentage rate (APR) is the official rate used to help you understand the cost of borrowing. It takes into account the interest rate and additional charges of a credit offer. All lenders have to tell you what their APR is before you sign a credit agreement.
How does APR work?
APR is used for comparing credit cards and unsecured loans, and is expressed as a percentage of the amount you’ve borrowed. For example, a personal loan with a 15% APR should be cheaper than one with a 17.5% APR, although you should always check the terms and conditions. Click here to read full article
First Choice AGM 2019 - Save the Date
December 05, 2019
Our AGM will be on Thursday 5th December 2019 at 6:30pm at
Haslingden Community Link
Bury Road
Haslingden
Rossendale
BB4 5PG
Why not come along and meet the team?
Thomas Cook collapse: Your questions answered
September 26, 2019
The collapse of Thomas Cook has understandably left many people searching for answers about the impact on their holiday plans.
Here are some of your typical questions, which we have done our best to answer,
Consumer rights
Q: "I have paid for flights to Goa in January with Thomas Cook - can I claim the money back from my credit card company? If so, how do I go about this?"
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Universal Credit changes in October: Why claimants could get MORE money from next month
January 01, 2020
UNIVERSAL CREDIT claimants will see changes to their payments from next month, as the Department for Work and Pensions roll out revisions to the benefit. Some claimants could get more money in their pocket as a result of the changes.
New 'Family Loans'
September 05, 2019
First Choice Credit Union are now offering 'Family Loans'
A 'Family Loan' is where a parent or guardian can borrow up to £500 as long as they arrange for their Child Benefit to then be paid into an account with the credit union.
Part of the weekly Child Benefit is then taken to repay the debt and part is placed into savings.
This is an ideal way to help cover those expense that don't crop up everyday and haven't been budgeted for.
Genius trick to get a school uniform for less than £1
August 17, 2019
A mum-of-five who faced a £600 bill to send her kids back to school set up a £1 swap shop to trade outgrown uniforms with other parents.
Alan Turing to be the face of new £50 note
July 29, 2019
Alan Turing, the scientist best known for helping to crack the Enigma code during World War Two, is to appear on the new £50 note, the Bank of England has announced. The polymer £50 note, featuring Turing on its reverse, is expected to enter circulation by the end of 2021. Turing will replace Matthew Boulton and James Watt who are currently featured on the reverse of the note.
Summer holidays: how to get help with the childcare costs
July 18, 2019
Sorting out childcare for the school summer holiday can be stressful and costly – but there is financial help available to make things easier.
Many parents will be aware of government schemes such as tax-free childcare but did you know these can be used to help pay for holiday clubs and summer camps as well as nurseries, after-school clubs and so on?
Experts are urging parents to make sure they are taking full advantage of what’s on offer.
To find out more and read the full article Click Here.
BBC CHILDREN IN NEED EMERGENCY ESSENTIALS PROGRAMME
June 16, 2019
To give some background, Family Fund Business Services are now delivering the BBC Children in Need Emergency Essentials Programme (previously this was Buttle UK). We started delivering the programme in June and we are very keen to spread awareness about the programme in order to meet the needs of as many families as possible.
Holiday fraud warning signs after £7million is lost to scammers
May 16, 2019
Bookers are being warned to watch out for companies that claim to be members of professional bodies such as ABTA and be wary of paying anyone directly, even if they're are offered a discounted rate.
British holidaymakers lost more than £7million to fraudsters last year, new Action Fraud figures show.
Over 5,000 people reported being defrauded by online criminals - with the average person losing £1,380.
Now, travel association ABTA , Action Fraud and Get Safe Online are joining forces to warn the public about the dangers posed by holiday fraud and the warning signs that come with them.
To read the full article click here
TSB first bank to unveil 'fraud refund guarantee' for customers
April 14, 2019
TSB has announced a new ‘fraud refund guarantee’ to protect customers if they are an innocent victim of a scam. Credit: PA
‘A caller ID phone scam took our life savings’
April 07, 2019
Scammers stole thousands from a retired couple after posing as Santander staff and getting the company’s fraud hotline number to appear on their caller ID screen.
Douglas and Ruth Macfarlane, aged 77 and 72, from Northumberland, were tricked by an “authorised push payment” scam, where fraudsters persuade victims to transfer money out of their account while on the phone. Such scams netted fraudsters £145 million in the first half of 2018, according to UK Finance, a trade association.
40 years of Credit Unions
April 03, 2019
Today we celebrate 40 years since the Credit Union Act 1979 came in to law. Forty years of true community co-operation in saving together and lending to each other when needed.
44 tips on paying off your debts
March 25, 2019
Falling into substantial debt can be a traumatic experience that impacts all areas of your life. Which? explains the steps you can take to get back in control from paying less interest on credit cards to the grants and benefits you can claim.
Debt isn’t always a problem and most people will have some form of it, whether that’s a mortgage on their property, a credit card or an overdraft on their current account.
If treated with care, debt can be useful: very few people could afford to buy a home without a mortgage. However, if a debt is left to spiral out of control then it has the potential to take over and destroy lives.
To read full article click here
Beware 'HMRC' phone scams
March 19, 2019
Beware 'HMRC' phone scams - surge in calls telling victims they owe taxman £1,000s....Fraudsters are increasingly carrying out sophisticated phone scams which can involve them threatening victims with immediate arrest if they don't pay £1,000s on the spot - and bogus calls in some cases appear to come from HMRC's telephone number. If you receive an urgent demand to pay tax over the phone, beware.
New banking updates coming soon!
March 14, 2019
As many of you know in December we launched our very first Mobile App and online banking platform. Three months later we are delighted to announce you can expect some exciting new features in the coming weeks. In addition to checking your balances you will be able to access a loan calculator, send us documents securely and apply for a loan online!
We have even more advancements which we will be rolling out through out the year. So watch this space! If you are not already registered for online banking get in touch with us on 01706 215082.
Borrowers face early-repayment charges on half of all personal loans - But not with your credit union!
March 04, 2019
Paying off a loan earlier than expected can lift a huge weight off your shoulders – but the majority of providers will hit you with a hefty fee for clearing your debt ahead of the agreed timeframe. Which? analysis has found that 59% of personal loans currently available come with early-repayment charges (ERCs), a fee applied if you pay off your debts before the end of your deal. We reveal the loan providers hitting customers with this charge and where to find a loan without ERCs if you want the option to pay off your debt sooner penalty-free.
Read more: https://www.which.co.uk/news/2019/02/borrowers-face-early-repayment-charges-on-half-of-all-personal-loans/ - Which?
Did you know that there are zero charges or fees for paying your First Choice Credit Union loan back early?
Life on Benefits: Universal Credit?
February 07, 2019
Brexit might be dominating the headlines - but arguably one of the biggest changes to the welfare state in a generation is the roll out of Universal Credit - which could affect over eight million people across the UK.
FCCU Welcomes Youngest Member
February 04, 2019
This morning we were delighted to welcome our youngest member, baby Henry, to the credit union at 1 day old! Many congratulations and best wishes to the Henry's family on their new arrival.
It's never too soon to join our credit union and be a part of the co-operative movement. For more information about our Junior Accounts click here.
Biggest 9 credit score myths busted - the facts about your report
February 01, 2019
They are the reports that banks, employers, landlords and more check before deciding to make an offer - but people are getting basic facts about credit reports wrong every day.
Credit scores can be confusing. But it's worth getting to know them better, as they could make all the difference when it comes to applying for deals such as mortgages, car loans, and even mobile phone contracts.
They can also be crucial when it comes to being offered a better or worse rate on a loan.
Credit report and score provider, Noddle.co.uk recently put people's financial skills to the test - and found that the majority (56%) couldn't answer correctly when asked what a credit score is.
To read the full article click here
Biggest energy suppliers treating price cap 'as a target not a limit'
January 10, 2019
Britain’s biggest energy companies have been accused of using the Government’s new price cap as a “target rather than a limit”.
Marriage tax allowance win
January 16, 2019
MoneySavingExpert.com ·
A massive £1,320 marriage tax allowance win - have you checked to see if you are due one?
The Cost of Christmas is Going Up
January 07, 2019
Despite many Brexit jitters and economic uncertainty, we are spending more than ever on Christmas.
Britons are expected to stock up on panettone, fine cheeses and wines while online retailers are banking on last-minute discounts on home entertainment, clothes and toys. Christmas sales account for 34 per cent of annual spending on toys and amount to £1.2bn and it’s predicted that children aged 11 and under will unwrap at least 10 toys each this year. This year the most sought-after toys include Barbie’s Ultimate Kitchen (£44.99) and Monopoly Fortnite edition (£22), according to the Toy Retailer Association’s Dream Toys list.
Click here to view article in full
When is a sale actually a sale?
December 20, 2018
First it was the High Street, now it's online as well: retailers are desperate to attract consumers by offering huge discounts....
Christmas Opening Times
December 10, 2018
Please be aware that some of our service points will have reduced opening times over Christmas and New Year. Take a look at the table to find out more. If you feel this may affect you in some way please contact us on 01706 215 082 for further assistance. Thank you
We've Launched Our Online & Mobile Banking
December 07, 2018
We are so excited to announce that last night at our 26th AGM we launched our Online Banking and Mobile Banking App. The App is available to download to your android mobile from the Google Play Store now and is coming to the Apple App Store this December.
Click here to access our Online Banking Page now.
Not registered for online banking? Contact our office to retrieve your PIN on 01706 215082.
How to cut the cost of your supermarket shopping
November 26, 2018
It’s time to test your nerve and see if you can outsmart supermarket special offers!
New price cap plan to stop excessive rent-to-own fees
November 22, 2018
Financial watchdog to cap credit charges and fees at 100% of cost of original product..
Article in The Courier promotes Credit Unions
November 22, 2018
Could your money be better off in a credit union?
Credit unions are a perfect example of people joining forces to help each other.
They are owned by their members, with ethical principles at their core – something that often appeals to many.
Members just have to share a common bond: it could be that they live or work in a certain area or are members of a club, organisation or church. For example, there’s a credit union for NHS workers, and another for people working in law enforcement.
Some credit unions can have a few hundred members, others might have thousands, and their offer of surprisingly competitive rates on loans and savings means they can be a really attractive option for people looking to make the most of their money.
Celebrating Our 300th Board Meeting
November 15, 2018
We celebrated our 300th Board Meeting with a special cake and exciting preparations for our 26th AGM coming this December.
Did you know our board is 100% made up of volunteers who are members of the credit union? This means that we are always making decisions with our members at the forefront of our minds. Our board members are elected by the membership at our AGM.
UK living wage rises above inflation rate for 180,000 workers
November 08, 2018
More than 180,000 workers are set for an inflation-beating pay rise, as the UK living wage rises against a backdrop of increases in transport costs, private rent and council tax.
The pay rate, a voluntary measure adopted by more than 4,700 employers, including Aviva, Burberry and Ikea, will increase by 2.9% to £9 an hour across the country and by 3.4% to £10.55 in London.
Set by the Living Wage Foundation, the rate is calculated by assessing what workers need to meet the basic cost of living in Britain, and is £1.17 higher an hour than the national living wage imposed by the government for workers over the age of 25.
Universal Credit.Will benefit changes affect you?...
October 25, 2018
The government's new flagship benefits system - universal credit - is causing "unacceptable hardship" for many of the claimants it was meant to help, a committee of MPs has said.....
First Choice AGM 2018 - Save the Date
October 14, 2018
Our AGM will be on Thursday 6th December 2018 at 6:30pm at
Haslingden Community Link
Bury Road
Haslingden
Rossendale
BB4 5PG
We have some exciting announcements in addition to our usual agenda. Looking forward to seeing you there!
Half of twenty-somethings have no savings
October 09, 2018
Young people in the UK are losing the savings habit - with more than half of 22 to 29-year-olds living with no savings at all, official figures show.
Some 53% of this age group have nothing in a savings account or Individual Savings Account (Isa), the Office for National Statistics (ONS) said.
The squeeze on pay and the prevalence of insecure work mean many cannot put money aside.
Ten years ago, 41% of the equivalent age group had no savings.
TSB,HSBC & Barclays customers hit by IT problems....
September 30, 2018
TSB, HSBC and Barclays have all reported problems with their apps or websites on Friday, locking customers out of their accounts on what was payday for millions.
Martin Lewis criticises 'outrageous' PPI comments from Barclays boss
September 26, 2018
MoneySavingExpert.com founder Martin Lewis has hit out at comments from Barclays chairman John McFarlane, who claimed in a newspaper interview this weekend that the PPI scandal has turned "portions of Britain into fraudsters."
Speaking to The Mail on Sunday, McFarlane said that an "enormous" proportion of claims for compensation over mis-sold payment protection insurance have been bogus. But speaking on BBC Radio 5 Live, Martin has said his comments were "a little rich" and Mr McFarlane should have "kept his mouth shut."
The Bank of Mum and Dad Will Run Dry
September 16, 2018
Families will be unable to provide the extra financial support needed by their loved ones if lending from credit firms is choked off, a trade body has warned.
The Consumer Credit Trade Association said its members were under pressure having been "carpet bombed" with compensation demands from claims firms.
Less lending would mean people turned instead to family for loans, it said.
But claims companies say that lenders would not be in trouble if they had treated customers fairly in the past.
Click here to read the BBC News article in full.
Don't forget! Your credit union is here to support you through a savings plan or an affordable loan. Talk to us if you are feeling the impact of this.
Warm Home Discount Scheme
September 11, 2018
The home warm discount is now open with a lot of energy suppliers £140 discount on electricity if people meet the criteria eligibility.This is a first come 1st serve basics so be quick to apply .See the article below. The deadline date to claim a Warm Home Discount Scheme rebate is the 31st January 2019.
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You could get £140 off your electricity bill under the Warm Home Discount Scheme.
The money is not paid to you - it’s a one-off discount on your electricity bill, between September and March.
You may be able to get the discount on your gas bill instead if your supplier provides you with both gas and electricity. Contact your supplier to find out. The 2018 to 2019 scheme will start on 15 October 2018.
Credit Unions On The Rise
September 11, 2018
New figures have shown that credit unions, long touted as offering a vital alternative to payday lenders, are on the rise.
Despite support from many quarters, credit unions have remained relatively low-key in the UK. However, official figures from the Bank of England released on Friday reveal that the UK’s credit union membership has passed the 2 million mark for the first time.
Wonga was bad,says Michael Sheen.But even worse lenders could now move in.
September 01, 2018
Actor Michael Sheen has called on the government to ensure that Wonga is sold to an ethical lender, and warns that customers of the collapsed payday firm are at risk of being scammed.
Sheen, who started publicly campaigning against high-cost lenders in March, said the fact that Wonga has gone into administration presented an opportunity to bolster “fair and responsible” competitors – such as credit unions as well as new ethical lending startups.
FCCU Director Graduates DEEU Programme
August 28, 2018
We are pleased to congratulate our Company Secretary, Dawn, on her completion of the Credit Union Development Educator Europe (DEEU).
The Credit Union Development Educator Programme (CUDE) has international recognition with 7 programmes running world wide.
We are very excited for the positive impact that this will have for our credit union. Well done Dawn!
70 Years of International Credit Union Day - Platum Theme Announced
August 19, 2018
International Credit Union Day falls on 18 October this year, taking the theme Find Your Platinum Lining to mark the event’s 70th anniversary.
Brian Branch, president and chief executive of the World Council of Credit Unions (Woccu), said: “This year we are celebrating 70 years of ICU Day and we celebrate that our global movement historically goes back much further, enriching the lives of many over the years.
Click here to read the article in full.
We would like to hear your thoughts on how you, our members, would like to celebrate being part of the credit union movement. If you have any ideas or wishes please contact us on 01706 215082 or email us at firstchoicecu@btconnect.com
Adult Community Courses Starting Soon
August 05, 2018
Accrington & Rossendale Collage are getting ready for lots of great adult courses starting from August 2018.
August is taster month for ACCROSS adult community courses. During the month they are offering a range of one-day ‘bitesize’ courses to give students a taste of a subject and to help them make an informed choice about longer courses from September.
Bitesize Subjects include Mentoring, ICT Computer Skills, Cleaning & Facilities, Customer Service & Retail, Warehousing plus many, many more. Follow the link below for details:
Accrington Ross College Bitesize Aug 2018 (pdf)
The full list of adult community courses at Waterside (and some at Broad Oak Road) from September is now available.
Fake emails are after your Amazon login details!
July 31, 2018
Action Fraud have had an increased number of reports about these fake emails purporting to be from Amazon.
The subject line and content of the emails vary, but they all contain links leading to phishing websites designed to steal your Amazon login details.
Always question unsolicited requests for your personal or financial information in case it’s a scam. Never automatically click on a link in an unexpected email or text.
To find out more visit Real Rossendale.
Back To School Saving Tips
July 23, 2018
The Money Advice Service have launched some back to school money saving tips. Whilst the schools may have only just broken up for the summer holidays, the new term will soon be upon us. Click here to view their money saving video. Don't forget, you can apply for a loan with us if you need a little extra.
Mayoral Visit
July 19, 2018
We were very pleased to welcome the Mayor of Rossendale, Councillor Ann Kenyon and the Mayoress Mrs Susan Kapler to open our new premises at 37 Kay Street Rawtenstall recently.
This was a triple celebration as our members recently achieved over £1million in savings and we also completed the renovation of our Haslingden premises as part of the Haslingden Task force renewal scheme which the Mayor and Mayoress also visited.
New members are always welcome and as a member, you will have a say in how the credit union is run. This includes the right to vote at our Annual General Meeting and the opportunity to become a volunteer. As a not for profit organisation, any surplus that we make is returned to members in the form of a dividend.
Free £25
June 05, 2018
We are delighted to announce that 50 of new members who joined First Choice Credit Union between October and December 2017 ,have benefitted from a credit of £25 to their share account as part of the Stop Loan Sharks campaign.New members who saved regularly for a period of 3 months with us were eligible.
We will once again be offering this incentive thanks to the Stop Loan Sharks Project for new members who join the credit union between 1st June - 31st August 2018, and who save regularly with us.Contact us for full terms and conditions 01706 215082
An Insight into Credit Union Membership
March 16, 2018
A new report by the Financial Inclusion Centre looking at the attitudes and behaviours of existing credit union members found significant approval for the services offered by these local financial cooperatives.
A new report by the Financial Inclusion Centre looking at the attitudes and behaviours of existing credit union members found significant approval for the services offered by these local financial cooperatives.
The largest ever survey of credit union members that spoke to over 12,500 users in 29 different credit unions across the country, found that 81% of members said they were extremely satisfied or very satisfied with their credit union, while 84% said they would recommend a friend or family member. It also showed that members felt the services provided by the credit unions were good value and offered a positive customer service experience. To set this in context, a recent Which? survey found that mainstream banks average overall customer satisfaction score was only 68%.
We're Moving
March 07, 2018
On Tuesday 27th March our Rawtenstall Office on 5 Bacup Road is closing at 1pm and will reopen at our new premises on 37 Kay Street at 10am on Tuesday 3rd April.
We are very excited about the move and the better service we will be able to offer our members as a result of it. We apologise for any inconvenience caused during this time and thank you for your patience.
Please see our list of alternative collection points to use during this transition.
Student Loan Mythbusting
February 22, 2018
The truth about uni fees, loans & grants.
Ignore newspaper headlines about students leaving university with £50,000 of debt. That's a mostly meaningless figure. What counts is how much you'll repay; for some that's far more, for others it's free.
This guide is written to bust common myths about student loans, grants and finance, including the 20+ key facts every potential student, parent and grandparent should know.Click here to find out more
Hollywood Star Michael Sheen Backs Fair Loans Campaign
February 05, 2018
He is supporting the launch of a new £1m fund set up by the Carnegie UK Trust.
The money will allow Scottish social enterprises to increase the availability of affordable loans.
An estimated 150,000 people in Scotland borrow £250m annually from high cost lenders such as pay day loan firms.
He said: "High cost credit has for too long been targeted at those who can least afford it and those who are most vulnerable in our society.
"The need for ethical alternative providers is clear, whether they be on our local high streets or available online.
"But it's not just about creating more providers - we need to do more to enable them to compete with the high cost providers and to provide vital financial support to communities across the UK, putting people before profit."
Happy Birthday Stop Loan Sharks
February 02, 2018
On the 26th January 2018 Stop Loan Sharks celebrated their 1st Birthday. Over the past 12 months they have provided support, advice and guidance to victims of loan sharks and have taken action accordingly.
To find out more click here to visit their website.
Old £10 Note Notice
January 29, 2018
The old £10 note must be spent by March 2018 after the Bank of England revealed the date for when it will cease to be legal tender.
A use by date of March 1, 2018, has been slapped on £10 paper notes following the introduction of the plastic tenner on 14 September.
However, old notes can still be spent ahead of the cut-off date, or exchanged at the Bank once this point has passed. For more information you can read the full article here.
New coins 100 years of womens vote
January 19, 2018
The Representation of the People Act 1918 gave voting rights to women over 30, who met minimum property qualifications, and all men over 21. It was a landmark step on the road to equal representation and to the rights we enjoy today. In 2018, the Royal Mint mark 100 years since the signing of the act on a UK 50p coin.
Credit Union Suggested by Money Advice Trust
January 04, 2018
The BBC have published a news story featuring the Money Advice Trust's recommendation on households savings. The article highlights Credit Unions as a method of saving for Christmas and the impact of Christmas on household finances. Click here to read the article in full.
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