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Council acquires
Cunard building
LIVERPOOL City Council has
completed the acquisition of the Cunard building, in a move which is
set to deliver massive savings and income for the authority.
The City Council has acquired the leasehold of the famous Grade II*
listed building at Liverpool's Pier Head.
It is part of a cost-saving scheme which will see the City Council relocating staff to the site and disposing of its interest in two
other City centre offices; Millennium House on Victoria Street, and
the 10th floor of The Capital building on Old Hall Street.
It will slash the council's accommodation costs by around £1.35
million per year. At the same time, up to £1.75 million of income
will be generated per year from renting out spare office space. The
Council will have the option to buy the freehold for a nominal fee
after 5 years, meaning the iconic building will be owned by
the City.
Plans to develop the downstairs space in the building for cruise and
leisure uses are currently being drawn up by the council, and will
be unveiled in the summer.
 Mayor of Liverpool, Joe Anderson said:-
"This is a really important deal for the City Council which will
save us a significant amount of money, reduce the number of sites we
occupy in the City centre and create a new income stream which can
be ploughed back into delivering important services. This is
part of our Invest to Earn strategy to find new ways of cutting
costs while at the same time bringing in money which will enable us
to continue to deliver vital services in the face of the massive
cuts imposed by Central Government. The building is located on our
world famous waterfront and we will be maximising its potential as a
location for receptions, exhibitions and cultural events."
The Council is paying for the lease from its reserves, meaning no
borrowing costs or impact on frontline services.
The Cunard Building was owned by the Merseyside Pension Fund and
occupied by a number of local and national companies, with 110,000
sq ft of space currently available to let.
The income generated by the move means the Council expects to see a
return on its investment within 10 years.
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Riverside Credit
Union Steps Up Fight Against Payday Loans With 'Instant Issue'
Loan Card
RIVERSIDE Credit Union
stepped up the fight against Liverpool's high interest, instant cash
providers with the launch of a new 'instant issue' loan card
that enables it to supply low cost loans to its members instantly.
The product, called credEcard Instant Issue, enables Riverside to
cost effectively issue instant loans to members via a one-time-use
Visa debit card, without the need to hold large amounts of cash on
the premises. By doing so, Credit Unions can deter their members
from turning to higher-interest payday and logbook lenders for
immediate access to short-term funds and crisis loans.
Peter MacDonagh, Manager of Riverside Credit Union, Merseyside
commented:-
"credEcard Instant Issue has helped us to better serve our
members and protect our staff and premises.
Previously, large amounts of cash were needed onsite to fulfil loan
requests. This carried a significant security risk and was also
costly as the management and transport fees for cash can be sizable.
Now all we need is a computer system and a card reader. Fantastic.
Everyone is safer and the whole operation is more efficient,
enabling us to do our jobs better."
Riverside is one of the first Credit Unions to adopt the product in
the UK, with a host of others around the country in the process of
enquiry and implementation. When taking out a loan, customers are
issued with a plastic payment card, with which they can withdraw the
funds. There are currently 1000+ Instant Issue cards in circulation,
with projections expecting in excess of 10,000 by the close of the
year.
"Services of this kind are of crucial importance right now.
Unfortunately, many people that need rapid access to cash think
that extreme interest lenders are their only option. credEcard
Instant Issue helps credit unions to offer a competitive and ethical
alternative. It also provides another avenue through which they can
give financial guidance to their members. To support the education
process, recipients of the Instant Issue card will also
automatically receive a credEcardplus current account that provides
functionality; including express money transfers, bill payments,
ATM withdrawals, money management tool and mobile app; in addition
to generating cash rewards for users at a range of specially
selected high street stores. All of this innovation has
been developed in response to the needs of Credit unions and their
members. We are continuing to work closely with our welfare support
partners to understand their pain-points and add functionality to
our platform to solve as many issues as we can." said Geoff Leech, Managing Director of credEcard.
By partnering with credEcard, credit unions and associated
organisations; including housing associations and local authorities; are able to support those they serve with the required budgeting
tools and account facilities at no cost to them. Last year, credEcard also launched its Envelope Facility, an advanced jam-jar
budgeting tool that is designed to help account holders avoid
getting into financial difficulties by ring fencing essential funds
for rent, care provision and utility bills, for example, leaving the
remainder of their monthly income free to spend or withdraw as cash. |
