The Next Step in Our Journey. Our Merger with the Oddfellows

04.02.2021 by Jim Ker

Following regulatory approval, Kingston Unity joined with the Oddfellows on Monday, 1 February, as voted by our Delegates on Saturday, 14 November 2020. Therefore, from 1 February, Kingston Unity ceased to trade as an independent body and all existing KU member products transferred to the Oddfellows under their insurance arm, Unity Mutual.

While this will be a sad occasion for many of our members, the decision voted in by our Delegates and recommended by the Board truly has the best interests of our members at heart. The deep-rooted history and proud traditions of mutuality of the Oddfellows is something both societies share, and members will find a similar value placed on member representation that they found at Kingston Unity.

For over 200 years, the Oddfellows have helped their members forge friendships and offered help in times of need. To date, the Oddfellows have a network of 115 branches of which their 404,000 UK members can choose to be a part of. In addition, currently, around 41,500 members benefit from the range of social care and financial benefits that are available.*

The Oddfellows are very proud of their mutual status and long history of member support – a trait that we share at Kingston Unity and a key driver when selecting the Oddfellows as our merger partner. Many Oddfellows members cherish their traditional values that are upheld within their society and the traditional events and ceremonies that members are welcome to be part of.

You can learn more about the Oddfellows here.

 

Simple, flexible finances alongside mutual values

Unity Mutual is the financial services brand of the Oddfellows and offers a range of simple, flexible, and affordable financial products for its members and their families.

Unity Mutual bases its values on three key areas: supporting customers by designing savings and investment products that help them live the lives they aspire to, always acting with the customer’s best interests at heart, and supporting the communities that their customers are within. These three values underpin the Unity Mutual vision of a fairer financial mutual for all – an ethos echoed by their parent brand, the Oddfellows.

Unity Mutual offer a range of different financial products to meet the needs of its various members. These include their Lifetime ISA, Flexible ISA, Guaranteed Investment Bond, and various accessible tax-free savings options for young people. Terms and conditions apply to all Unity Mutual products. Please check www.unitymutual.co.uk for more details.

You can learn more about Unity Mutual here.

 

We’re still here to answer your questions

We are now closed for new business, but we will continue to manage the policies of our existing members. As the merger goes ahead, our offices will remain open for our existing members who have any questions about their products. Our phone lines and email contacts will remain the same and we’ll be happy to answer any queries that our members have with the same great services we have always delivered.

*Terms and conditions apply to all benefits. All the Oddfellows benefits are non-contractual and may be withdrawn at any time without notice. Full details of member benefit terms and conditions are available here or call you can call 0800 028 1810 to learn more.

Please Note: You must confirm you have read the key facts, before downloading this document.

Key Facts about our services and costs

1. The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. This document is designed by the FCA to be given to consumers buying certain financial products. You need to read this important document. It explains the service you are being offered and how you will pay for it.

2. Whose products do we offer?

We offer products from the whole market

We only offer products from a limited number of companies

We only offer our own products

3. Which service will we provide you with?

We will advise and make a recommendation for you after we have assessed your needs.

You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

We will provide basic advice on a limited range of stakeholder products and in order to do this we will ask some questions about your income, savings and other circumstances but we will not:

  • conduct a full assessment of your needs;
  • offer advice on whether a non-stakeholder product may be more suitable.

We can only offer products from Kingston Unity Friendly Society. These products will enable you to:

  • protect yourself and your loved ones in the event of death
  • save and invest with the added benefit of protecting yourself and your loved ones in the event of death
  • provide benefit cover in the event of sickness

4. What will you have to pay us for our services?

Normally, if you buy a financial product direct from us, there will be no payments such as commission or fees payable. If there are any commission or fees payable, we will tell you how we get paid and the amount before we carry out any business for you.

5. Who regulates us?

Kingston Unity Friendly Society, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and .the Prudential Regulation Authority. Kingston Unity Friendly Society’s FCA Registered Number is 110056.

Kingston Unity Friendly Society permitted business is advising and arranging life assurance and pensions business.

You can check this on the FCA’s Register by visiting the FCA’s website www.fsa.gov.uk/register or by contacting the FCA on 0845 606 1234.

6. What to do if you have a complaint

If you wish to register a complaint, please contact us:
…in writing Write to Kingston Unity Friendly Society, Complaints Department, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ. …by phoneTelephone (01924) 240164

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

7. Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

Most types of insurance business are covered for 90% of the claim with no upper limit.