FINANCIAL REPORT FOR 2009/10
The Auditors for the Credit Union are Williams Ross based at Gwaelod y Garth. They have audited our accounts for over 15 years and their latest audit shows Undeb Credit Plaid Cymru Credit Union to be in sound financial order.
Once again the amount of money out on loan to our members has increased to £191,197 a figure never exceeded in our existence as shown in the graph.
The interest from the loans is the main income for UCPCCU union and together with the interest on investments with the Swansea Building Society and the Monmouthshire Building Society it is the only income UCPCCU obtains. Unfortunately because of low interest rates by the Building Societies the income from this source has been reduced substantially.
The amount of members’ shares (savings) held by UCPCCU has again increased for the tenth year in succession. At present this sum stands at over £300,000.
As a result of our performance we have again been able to award an interest dividend of 2% which is higher than most High Street Banks and Building Societies for accounts with instant access.
Good news for 2010/11 is loans are again higher and well above our target for the year, with 3 months yet to run it may beat the highest loans made record of 2004/05 that was £124,211
E-mail/Website
All forms can be accessed from the site. Regular updates are now posted on the site. Interesting links are also available to Plaid Cymru AMs, MPs, Jill Evans and many others. All forms can be downloaded from the site.
E-mail address is post@ucpccu.org or ucpccul@btconnect.com. and the website can be accessed at www.ucpccu.org
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