The Engage programme has been given an investment pledge from the Contis Group, to assist them in offering credit unions a comprehensive banking solution to replace current outdated financial offerings.
With a new ruling from the Bank of England’s Prudential Regulation Authority (PRA) that “rigid restrictions” should be lifted, more credit unions will now be in a position to offer members competitive financial packages.
Currently there is huge variation between credit union size and what they can offer to their members. The Engage programme would uniform the service offered across the UK’s credit unions (over 360) providing members with a current accounts, business accounts, junior savings accounts, money managing kits and more.
Barry Epstein, founder of the Credit Union Consultancy, said: “The Engage programme is delivering a competitively priced, comprehensive package of products, services, back office functions to credit unions without the burden of major capital outlay or long term expensive commitments.
“To paraphrase – the Engage programme reaches all parts of the credit union system that other systems can’t reach.”
The Engage programme is the result of months of detailed partner workshops and over 200 presentations to and consultations with credit unions undertaken by the Contis Group.
“This programme has been specifically designed to enable the UK credit union movement advance from what is currently a group of hard working independent organisations, seen as lacking in cohesive support, to achieve their true potential, into a nationally branded banking, payments and loyalty provider.