 As owner-members of the Dial-a-Cab Credit Union would expect, the major item on the agenda of the Annual General Meeting, held on 11 March 2010, was the report submitted to it by Terry McPherson, Chartered Accountant from the auditors Appleby & Wood, who declared the following information from the accounts: There was an increase in income of 19.47% in 2009 over 2008. During the current period, expenditure was 8.59% up on the year before, represented primarily by an increase in insurance rates and premiums worldwide. It is necessary for the Credit Union by law to effect various insurances to protect the savings of members. Trading surplus for the year was up by 111.83% over the year before – a phenomenal result. Loans outstanding to members rose by 16.86% over the period. This is essential growth, as the loan book is the major asset of the Credit Union. Provision for bad debts was only 3.68% and the auditor told the meeting: "This is phenomenal during the current economic |
Dial-a-Cab Credit Union AGM |
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 Terry McPherson: “DACCU is now phenomenally strong!”
downturn and is a
reflection of the prudent management exercised over the affairs
of the Credit Union by its owner-member Board of Directors,
loan-granting and internal audit committees." |
to the Credit Union
by investing in and taking loans from it." As noted earlier, the entire trading surplus for the year was allocated to the reserves of the Credit Union. This means that there was an increase of 23.49% in reserves from last year. The overall percentage of reserves to gross assets is 9.69% and is the envy of most clearing banks. The auditor concluded by saying: "This was always a financially strong Credit Union. It is now phenomenally strong, with support increasing for it at all times - 85 new members signed up in the last year. Well done to all concerned." Finally, full copies of the audited accounts are available legally only to owner-members and can be viewed on the website of the Financial Services Authority when they are filed. As I always say to those involved in the Dial-a-Cab network that are not yet members of the Credit Union, you’ve got to join it to enjoy it. And as always, be careful out there... John Riley (K38) |
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LONDON ACCORDING TO DAVE The untouchables - who are they??? |
Did you know... ...that the Northern line on our underground system was actually two different lines – The City and South London Railway and The Charing Cross, Euston and Hampstead Railway. The former was the first deep tube line and opened in November 1890. At the time, it linked King William Street (close to the current Monument Station) with Stockwell. The two lines merged in 1937 with the name to be either The City and South London Railway and The Charing Cross, Euston and Hampstead Railway or the Northern line. Guess who won... |
Here are 20 definitive facts about
them... 1. They are a minority, but are rapidly growing. 2. They are a group within a group. 3. They are sometimes seen as intolerant. 4. They have a brother in high office. 5. They seek to have more brothers in the corridors of power. 6. They give out their literature at tube stations under the guise of other parties. 7. They target the young with join us it’s cheaper and more healthy and give financial aid. 8. They neglect to speak of the fatalities - 108 over five years. 9. They are a source of embarrassment to some of their own. 10. They have a mission to proliferate themselves and their pathways across the capital and have exemption from existing laws. 11. They have a common bond with the capital’s Black cab drivers - a hatred of bendy buses! 12. They often wear Lycra and can suffer with numb ‘bits and pieces’ syndrome! 13. They jump traffic lights! 14. They go both ways up one-way streets! 15. They ride on pavements! 16. They ignore speed limits! 17. They are unlicensed, uninsured and untested! 18. They are untraceable! 19. They are unstoppable! 20. They are the untouchables! David Heath (ex-W27)
Surely he doesn’t mean us??? |
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