Barclays Credit Union
Programme Application Form
Barclays Credit Union Programme Application Form
Year 3 - 20171
Unrestricted distribution
Barclays and Credit Unions
About Your Organisation
About Your Credit Union
Key Financial Data
Products and Services
Supporting members with money management and delivering financial education
Assessing Development Needs
Development Strategy
Additional Information Required
Further Information for Applicants
Annexes
Barclays and Credit Unions
Barclays is a proud supporter of the credit union sector. Since 2004, we have given over £4 million to community finance in the UK, supporting over 100 credit unions and CDFIs to innovate and grow.
In April 2014 Barclays announced a further £1m of support to the credit union sector over the next four years. We have spent time consulting with the sector on current needs and have now evolved our support into this new programme focused on developing robustly evaluated training and direct support. The programme will focus on increasing the capacity, skills and resilience of credit unions so they can grow and become more effective and sustainable organisations benefitting even more households. We are committed to working with the sector to develop effective training and support resources and methods which we can make available to all credit unions.
The programme is open to all credit unions in the UK, regardless of affiliation. Through this programme, we hope to encourage collaboration, identification and sharing of best practice, and the development and enhancement of key skills and operational practices to promote growth and improvements across the sector. This in turn will allow credit unions to better meet the financial needs of their members and support more financially excluded and underserved households to manage their money and access and use appropriate financial services. It is being delivered through a number of expert delivery partners: Toynbee Hall, ACE Credit Union Services and UKCreditUnions Ltd, with the involvement of staff and senior executives from within Barclays. The programme is being independently evaluated by the Financial Inclusion Centre.
The programme will fund a team of specialists who will work with participating credit unions to explore their key support needs and priorities and then develop and deliver tailored training and support that will help make a sustainable impact in the sector, improving the skills and capabilities of selected credit unions and their members across the UK. This is a collaborative learning programme; we will robustly evaluate the delivery methods and impact so we can identify what works for wider sharing. We would welcome applications from CUs at different points in development (i.e. very new, more mature) and the training programme will be adjusted to fit their needs.
Key focus areas:
The Barclays Credit Union Programme operates across two key areas:
- Capacity Building:Building capacity of selected credit unions to support Directors, senior staff and other personnel to improve their core skills, capabilities and operational practices, across themes such as; risk management, financial planning, governance, lending operations, customer service and many more.
- Financial Capability:Improving financial capability and resilience through the provision of financial guidance skills training for credit union staff and volunteers. Credit unions can then target those segments of credit union membership who are struggling with their finances and may be more likely to default or be rejected for lending.
About thefinancial capability training offer:
The first year of the programme used informationfrom initial programme screening and assessment days, focus groups and telephone conversationsto formulate a flexible and innovative package of training support and resources suitable for each participating credit union.Fully committed to the development of quality financial education and money guidance support, Toynbee Hall aims to develop this support further through collaborative effort with each participating credit union in year 2. Essentially, you help shape the programme to meet your own needs.
The programme will give you additional skills and deeper insight into how your everyday work can have a powerful impact on the financial resilience of your members, regardless of which product or service is being discussed, or the state of the person's finances. It speaks to the founding principle of credit unions as "encouragers of thrift"; the training and resources will give you practical and effective ways to help members (and potential members) improve their financial resilience.
Participating credit unions can expect to achieve the following outcomes through the financial capability training and support:
•Havea clear understanding of financial capability and understand the relationship with financial inclusion.
•Understandthe benefits to your credit union when tackling financial capability.
•Identify your barriers to financial capability work and know how to overcome them.
•Identify opportunities for developing financial capability and increased learning through the way you communicate.
•Know how to use a range of resources to help with financial education delivery and money guidance support.
•Knowthe benefits andopportunities, and know how to use the programme resources toprovide financial capability support to declined members.
Barclays-specific support:
A core part of the programme is the commitment of time and expertise from our Barclays colleagues. Each participating credit union will be linked with a local branch partner, as well as given access and support to a variety of subject matter experts across the bank based on their specific support and development needs. The training provided will be face to face with the support of Barclays colleagues, but we understand there may be overlap with existing training initiatives. We will try to minimise this as much as possible, by tailoring the training to the CU.
The selection criteria will be based on a number of factors, including level of development of the credit union and appropriateness of our resources to the credit union’s specific needs and development priorities. Geography will be considered (to ensure we are able to provide support from Barclays colleagues), but will not be a decision factor; we will endeavour to accommodate CUs along distance from Barclays branches and are exploring virtual options for support.
The application and selection process:
This application is for yearthree of the programme which will run between May 2017 and April 2018. We will select a number of credit unions at the beginning of the programme year, but please note that we will providing the training on a rolling basis throughout the 12 month period. Therefore, there could be some delay between when a credit union is selected for the programme and when the training is received.
We very much hope that you will consider applying to take part in this exciting opportunity to access high quality and robustly evaluated training and support which will help your credit union adapt to the new regulatory environment, strengthen your governance and commercial knowledge and skills, and support your community in building stronger money management and financial resilience skills and behaviours. We welcome applications from a collaboration of multiple CUs, however, one CU is required to be the lead contact. Please email us at the address below if you wish to submit a collaborative bid.
The application deadline for Year 3 will close at 10:00 am on Friday31stMarch 2017.Applications will only be received via email; hard copies will not be accepted.
Please send your completed application to:
We look forward to hearing from you.
Section A: About your Organisation
Registered name
FRN Number
Registered addressOperational address (if different)
Tel No (main switchboard number)
Website
Year established
Year-end date
Affiliated to trade body? Please state which
Main contact details for this programme
Email:Tel number:
Are you participating in any other projects over the same time frame as this programme? (Please give details)
Section B: About your Credit Union
Please provide information correct as at date of latest Annual Return
Description of common bond
(live, work, employee, association)Estimate of eligible common bond adult members
Number of members
(Note: please provide data for accounts that have been active in the past 12 months. Please exclude dormant accounts. / Please provide data for last 3 yearsYear / Adult / Junior / Total
Current
1 year ago
2 year ago
Number of staff (current)
/ Full time equivalent (FTE)Full time
Part time
Number of volunteers(current)
/ FTESection C: Key Financial Data
Current value (as at latest date of Annual Return)
/Value 1 year ago
/Value 2 years ago
Non-deferred shares
Deferred shares
Loans
Total Assets
Share to loan ratio
Capital to Asset ratio
Liquidity ratio
Reserves
Dividend levels
Income from grants and donations
Operating expenditure (excluding bad debts)
Generalother income*
Total income
Surplus/loss
3 months / 3 – 12 months / 12 months +Total arrears
* This includes entrance fees, interest from loans to members, bank interest, other investment income, profit on sale of investment and assets, insurance commission, annual membership fees, bad debts recovered, admin charges for juvenile deposits and ancillary service charges.
Barclays will not use this information for anything other than this programme and will not share it with any other parties.
Section D: Products and Services
In this section please provide brief description of products and services you offer to members.
Product/Service
/Description of each type of product
Savings accounts (please list each product)Credit products (please list each product)
Transactional bank account/current account (please list each product including pre-paid card if you offer one)
Insurance products offered to members
Section E: Supporting members with money management and delivering financial education*
*Financial education – this can be 121s, workshops, drop-in sessions, information leaflets, etc.
We understand that it may be difficult to find the time to prioritise money guidance and financial education support for credit union members. Through this programme of support we aim to help your credit union find right fit approaches to doing so. In this section, it would be useful to briefly tell us about:
- Any current financial education provision or money management support that youoffer to members of your credit union (250 word max).
- Any barriers (e.g. lack of staff capacity or time) which currently restrict your ability to provide good financial education or money management support to members (250 word max).
c.
Please tell us about any barriers your credit union experiences or any recurring issues you face when delivering financial education. You can choose from the list below or tell us in your own words in the text box below (max 250 words). For those you have indicated “Y”, please rank in order, 1 being the most significant barrier to delivering financial education, 13 being the least significant.
Please indicate (Y/N) / Please rank(1-13)
Not enough time
Lack of adequate/appropriate space
Not enough experience or knowledge of how to support someone with money
Not enough staff or volunteers to do this work
Lack of strategy to deliver this work
Lack of knowledge of local community and where to signpost/refer
Lack of partnerships with other local organisations
Little confidence of staff/volunteers
Lack of interest among members in this work
Inadequate marketing
Not enough funding/resources
Little capacity for continual development
Other (please use the text box below)
Section F: Assessing Development Needs
This programme is all about supporting selected credit unions to build capacity. To help us do this, we need to assess which areas of your operations would benefit most from the capacity building programme. Please:
- Rank from 1 to 10 in terms of importance which of the following operational areas you think would benefit most from capacity building support. 1 means most important, 10 least important;and
- Based on a scale of 1 – 4, please tell us how you rate your current effectiveness in this area
1 = needs improvement; 2 = average; 3 = good; 4 = very good.
Please read explanatory notes in Annex 2 for further description of operational areas before ranking and assessing current effectiveness.
Operational Area
/Importance
(Rank 1 – 10)
/Effectiveness
(Rate 1-4)
Capital managementLoan book management
Risk management
Understanding good governance, board professional development
Staff and volunteer development
Policies and procedures
Legal and regulatory issues (prudential and conduct of business)
Product development
Service issues and complaint handling
Understanding social impact
Marketing
Other training required
If your credit union requires training in areas other than those listed above, please state in the box below:
Section G: Development Strategy
In the following section, please outline using between 250 and750 words any current strategy to develop your credit union and strengthen your current membership base including whether you plan to offer new products. Please tell us what you think are the three key challenges facing your credit union.
Section H: Additional information required
In addition to the information supplied in this application form, we would ask you to provide the following reports (as at date of latest annual return):
- Current Strategic/Business Plan (if you have one)
- Latest annual return to PRA
- Latest audited accounts
Annex 1: Frequently Asked Questions
1. Can we pick and choose between capability and capacity themes? Do we really have to do both strands?
No, you cannot pick and choose between the two, every participating credit union will receive training for both strands of the programme.
2. How will training be delivered?
Training will be delivered through a combination of face to face training via a team of specialists, as well as through relationships with Barclays staff, telephone support and some access to digital training.
3. How much time commitment required? Hours/weeks; overall duration of the programme?
Time commitment will vary based on the needs of each credit union participating in the programme. As the training will be structured on a bespoke basis around the needs of each credit union, time commitment will vary as well. We will endeavour to work around your existing commitments to the best of our ability.
4. How much flexibility in dates of training delivery?
We will endeavour to structure the training dates around your existing commitments. We will support 8-10 credit unions in each year of the programme and training will be delivered throughout the course of the year. Therefore we will be delivering training to some credit unions later in the year, in order to avoid most scheduling conflicts.
5. What input from the credit union will be needed for evaluating and/ or publicising the programme?
The Financial Inclusion Centre is managing the monitoring and evaluation of the programme and will be working with each credit union on the data and information they need to complete a robust evaluation. Barclays will be responsible for all communications about the programme with no communications requirements for credit unions.
6. Will expenses (eg any travel to training) be paid?
Face to face training will take place at the credit union to ensure that there are no costs to the credit union to participate in the sessions. All materials will be made available to the participating credit unions at no cost.
7. Will Barclays employees be involved in programme delivery and how?
Barclays employees are excited to have an opportunity to work with credit unions. A core part of the programme is commitment of the time and expertise of our Barclays colleagues. Each participating credit union will be linked with a local branch partner, as well as given access and support to a variety of subject matter experts across the bank based on their specific support and development needs.
8. When will we hear the outcome of our application, and when would the programme start?
The application submission period ends on 3rd April 2016 and we hope to contact all credit unions by 15 May 2016. The programme start date will vary as the training will be conducted on a rolling basis over the course of the year. This will be arranged on an individual basis with each participating credit union.
9. What is the deadline for applications?
The application deadline for Year 2is 3rd April 2016.
10. Is any direct funding available?
There is no direct funding available as part of this programme. Selected credit unions will receive support through training and training materials for staff and volunteers.
11. Who is providing the training?
Training will be provided through specialists from Toynbee Hall, ACE Credit Union Services and UKCreditUnions Ltd. Training will be supported with Barclays colleagues as well.
12. I have some questions about the form, where can I get help?
Please email us at with any questions you might have.
13. Can I apply now for training next year?
This application is only for Year 2of the programme. If you are not successful in this year, we encourage you to apply in subsequent years. The application will be offered again in early 2017 for Year 3of the programme.
Annex 2 Explanatory notes for Section F
Operational Area
/Notes
Capital management / This includes: Liquidity policy, liquidity management, capital adequacy requirements, capital and liquidity monitoring and reporting, investment of surplus funds, raising external capital, sources, understanding stakeholder requirements, products (grants, senior or subordinated debt), deferred or non-deferred shares.Loan book management / This includes: Lending policies and procedures; performance monitoring, credit control, arrears and delinquency management.
Risk management / This includes: Developing a risk register, identifying and managingfinancial risk including interest rate and funding risk, IT risks, fraud management, contingency planning, human resources risks, reputational risks, security risks, business continuity plan, and appropriate insurance held.
Understanding good governance and Board professional development / This includes: how to ensure appropriate board structures are in place, board competencies required, collective and individual responsibilities of board members, identifying board strengths and weaknesses and which areas need developing, and succession planning.
Staff and volunteer development / This includes: identifying skill gaps, training and professional development for staff and volunteers
Policies and procedures / This includes: developing appropriate policies and procedures on key business areas and helping board and senior management as well as supervisory committees monitor compliance with policies and procedures
Legal and regulatory issues (prudential and conduct of business) / This includes: understanding relevant legislation and regulation, monitoring compliance with regulations, reporting to and building relationships with regulators (PRA and FCA)
Product development / This includes: how to undertake market research, product pricing, how to develop marketing strategies including advertising and distribution
Service issues / This includes: understanding what treating customers fairly means, effective complaints handling
Understanding social impact / This includes: understanding and measuring the social impact of your credit union activities on members and local communities
Other training required