Call Sign March 2009 - Page 8 - DACCU 7% INTEREST HITS THE JACKPOT…

Drivers queue up to get on DaC Credit Union’s new rate! Who says that Dial-a-Cab drivers don’t read Call Sign! My last article certainly disproves that and shows that DaC’s finest knows a bargain when they read it! At the time of writing this, it is 2am in the morning and about the only time the phone hasn’t been ringing to ask about our new 7% interest account! So as a masochist, I thought I’d write another article to remind all who thought about investing, but then it became out of sight, out of mind! So here goes again. The Dial-a-Cab Credit Union has for the last two years, been giving out loans via our overdraft, which for the privilege costs over 12%. Let me also add that we are the only UK Credit Union who have this facility as the Bank of Scotland have provided us with the service based on our member’s savings and excellent loan book. So well done to all. But what if we could give those loans out of our own funds? For a start we’d save that 12% and could pass a chunk of those saved funds over to you – our members - in the form of a 7% return on your investment. As with all banks and building societies, there is a cash flow problem. But we as a Board saw this downturn in the economic climate as an opportunity to not only help the DaC Credit Union, but at the same time to help all you members out there – currently getting around a miserly 1% on your savings The most common question we have been asked is the obvious one: How safe would our money	DACCU 7% INTEREST HITS THE JACKPOT…
	be? Well, we come under the auspices of the Financial Services Authority, so all our quarterly and annual figures are sent for them to go over with a fine toothcomb. The money you invest with us has government backing of up to Ł50,000, so if the bank were to go under, you would have nothing to worry about. If you have more than Ł50,000 that you want to deposit, we recommend that you put the extra amount into another account - for example in your wife or partner’s name. They would, naturally have to join the Credit Union and as all members have to, become a regular saver. Another question we get is whether you use the money you have in your Credit Union account? The answer to that is no, the main reason being that we want fresh money so we can add this to the money we already have. The Credit Union would not be gaining anything by doing that, so I hope you can understand our position on it. Don’t forget the rollerbond scheme we are also running, which as I said last month (page 15) operates the same way as DaC’s rollerbond. But with our	scheme, you will receive some interest on your money depending on how well we are doing over the course of the financial year or how much our auditor allows. But whichever way you look at it, you will be getting extra money on your savings. So even in this financial downturn, you can still win. We also have a new facility at the credit Union offices that some have already taken advantage of; this is a credit or debit card machine that enables anyone to deposit or pay-off a loan either by coming to the office or by phoning us up. We can easily do the transaction over the phone, so as you can see we are striving hard up here in sunny Stratford to make your life with us as easy and as profitable as possible. Lastly, can you inform us if you are off sick or going on holiday so we can put it into our diary. That way you won’t have our rotweiller, former Driver Services lady, Val Gomez, phoning you up because believe me, you don’t want that! I hope this article clears up any questions, but if you still have any reservations just call us on 0208 522 4502 or 0208 522 4502 or call in at Suite 209, Channelsea House, Canning Rd, Stratford, E15 3ND. We hope to hear from you soon. That just leaves me with my usual be lucky… but be careful out there. John Riley (K38) Vice-President DaC Credit Union

Lord Young visits LTI Vehicles

Minister for Skills and Apprenticeships, Lord Tony Young, visited LTI Vehicles on Wednesday 11 February. The Minister met some of the staff who have benefited from Government funded apprenticeships and Train to Gain.
   Lord Young was met by Manganese Bronze CEO John Russell and company MD Peter Shillcock, before he took a tour of the plant. The Minister was also met by Sophia Lock, 2008 winner of the EEF (West Midlands) Final Year, Engineering Apprentice of the Year Award together with Training & Development Officer, Adam Wright. Lord Young spent time talking to staff at the Coventry based company who had participated in apprenticeship schemes.
   He was then shown around the plant by Dave Lancaster, who completed his 4 year advanced apprenticeship in 2008 and Simmeon Joseph, who is in his final year of an advanced apprenticeship.
   After the tour, Lord Young said: "It has been great to meet some of LTI Vehicles’ apprentices and to hear first-hand about their experiences. We want more people to do an apprenticeship. They offer a fantastic start to a career with the added benefit of earning while you learn.
   "We also want to see many more employers following LTI Vehicles’ example by offering

apprenticeships. They provide businesses with the highly skilled people they need to help them when the upturn comes. That’s why we’re providing over Ł1bn of investment for apprenticeships next year, so that many more people and companies can benefit from the opportunities apprenticeships offer."
Managing Director of LTI Vehicles, Peter Shillcock, added: "We are delighted that Lord Young visited us today. He has a clear passion for vocational training and spent time finding out how current and former apprentices had benefited from Train to Gain. He also explained the Government’s commitment to skills training and his personal commitment to develop more opportunities for apprentices. The Government’s Train to Gain programme and apprenticeship schemes have provided our staff with valuable skills in the work place."

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