LTB016/13 - Mortgages to CWU Officers

[POSTMAN]

CWU General Conference 2010 saw the carriage of two motions with regard to the above. The FOS and NEC considered these motions and LTB 972/10 detailed both how the issue would be dealt with as pertains to any new mortgage requests post conference 2010 and also how existing mortgages would be reported within the CWU Accounts. One of the actions agreed was that an LTB will be published to all branches at the earliest opportunity* at the beginning of each year that will list the following.

The name and position held of the CWU national officer in receipt of a mortgage.

The amount outstanding at the end of the previous calendar year.

The interest rate currently being charged against that mortgage.

(* subject to internal accounting processes being completed)


These details are produced below:

House.PNG

Note 1: Interest - All mortgage holders have interest calculated at 75% of the Bank of England base rate (i.e. 75% of 0.5% = .375%) with one exception see note 4 below.

Note 2: At the end of 2010 one officer repaid their loan to the CWU, leaving the CWU with 7 mortgages at the end of 2011 as opposed to 9 at the time of General Conference 2010. A further Mortgage was granted in 2012 in line with Conference policy giving a total of 8 (See note 4)

Note 3: The information contained in the table above is year end forecast with the final audited figures to be given in the 2012 audited accounts.

Note 4: * a new rate of 3.29% (the best on the market at that time) as determined by Conference policy and agreed by the NEC

As requested in Motion 57 these figures will be reproduced within the annual report and within the CWU 2012 year end accounts.

Any enquiries regarding this LTB should be addressed to the Senior Deputy General Secretary’s Department on telephone number 0208 971 7237 or email address sdgs@cwu.org.


Tony Kearns
Senior Deputy General Secretary

[Pinky 1]

An interest rate of 0.375 % on your mortgage ........... sweet

[DGP1]

An interest rate of 0.375 % on your mortgage ........... sweet

Yep, I'd like one of those.

[Labdog99]

As a Member of the CWU what are the chances of being granted a similar Mortgage. Times are hard and I know the Union always likes to support it's members