In a bid to reduce costs for our clients, Credit Union Solutions Directors are looking seriously at changing their structure from a Worker’s Coop to a User’s Coop. This will obviate the need for clients to pay VAT saving over £50,000 a year.
Graham Tomlin said.
“With so much pressure on our clients to hold ever larger sums in reserve it seemed to be a no brainer for us. Last year CUBE paid £11,000 in VAT which was larger than it generated in profit.
We are keen to continue with a cooperative structure and our clients are more than happy to adopt a structure that will produce much better savings for them.”