The great re-opening

Monday 17th May, 2021

17th of May sees the great re-opening and UK hotels see booming bookings

It’s the 17th of May and the day of the great re-opening with hotels, bars, restaurants, theatres, indoor entertainment venues and almost everything apart from nightclubs re-opening for the first time this year. 

We know our members are keen to get away for a break, because we’ve already loaned almost £600,000 for holidays, and applications keep on coming. 

With only a very small number of green list countries, and many of those hardly being tourist hotspots (who was planning to jet off to The Falklands or the South Sandwich Islands?), it looks like travellers abroad may largely have to add in isolation or quarantine time on their return, and online Holiday company Thomas Cook says that people are waiting to see what happens in June before booking.  

So for many, holidays in the UK are the big theme of the year and hotels are reporting booming bookings as people choose to stay closer to home. You might want to get your bookings in now if you haven't already, as hotel direct bookings are reportedly up over 600% 

Members who are borrowing for their needs are now taking advantage of our new Open Banking technology through Credit Kudos as part of the application process.  78% of applicants last month chose this secure way of sharing data with us, which meant that they no longer had to provide payslips or bank statements and that in turn means that many were able to get their loan on the same day as they applied. Great for those urgent needs, like when you’ve spotted a used car you want, and you need to know that you have the finance available quickly before it sells! 

Finally, this past year has seen savers putting away more than ever. Members have now amassed over £14M in their Credit Union and have enjoyed a market-leading return for a no-notice savings account. 

These are the benefits of mutuality. Not-for-profit financial services, with BAE Systems people coming together to own their own, exclusive financial services organisation and helping themselves and each other. We couldn’t do it without you, so give yourselves a pat on the back! 

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