Les Says - Blog 2

Tuesday 28th Aug, 2018

The second blog instalment from Les Walker.

Les sez,

Sorry for the delay in my second blog, oh and thank you for the responses I received from blog 1.I finished off way back in the early 1980s when we had just established the British Aerospace Employees (Warton Division) Credit Union. Back in the day the whole of the Credit Union was run by volunteers from within British Aerospace employees. The positions needed Chaiman, Secretary, Treasurer (me), Directors, Loan Officers, and Collection Officers which were mainly drawn from the shop floor as this was the area we knew best.

The Collection Officers were based in the hangars and were the front line in dealing with members. Their roles included taking deposits (cash), share withdrawal requests, loan applications and recruiting new members all whilst carrying out their working duties. They all did a great job for us

The Board would hold their monthly meetings in alternate members’ homes but we eventually settled in the Chairman’s (John Geraghty) house in St Annes.I still blame Mrs Geraghty for my addiction to malted milk biscuits.

So this system we had set up seemed to work well and the Credit Union membership steadily but slowly grew by word of mouth alone. During the next few years’ people moved on and new volunteers joined. I moved from shop floor to the Works Police but now we were confident we knew what we were doing we started looking for innovations that would benefit our members and take some pressure off the work of our volunteers.

How many can remember the savings scheme set up by the Company which allowed deductions to be taken directly from an employee’s wages and paid into a Lloyds Bank saving account? This was done by the employee filling in a pink card with their Lloyds Bank savings account number on and the amount they wanted to save then sending it to the payroll department.

We hijacked this scheme by opening a Credit Union savings account with Lloyds Bank and getting the member to put our account number on the pink card.

Brilliant, this was our first direct payroll deduction scheme, and no longer meant having to take in cash each week. As we were still a relatively small organisation we kept under the British Aerospace radar and no one detected what we were doing, or did they? Interesting what happened next.

“I’ll be back” as someone once said.


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