Published date: 28 July 2022

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 18 January 2022, 12pm

Contract summary

Industry

  • Credit granting services - 66113000

Location of contract

London

Value of contract

£500,000

Procurement reference

tender_293695/1088898

Published date

28 July 2022

Closing date

18 January 2022

Closing time

12pm

Contract start date

11 July 2022

Contract end date

10 July 2027

Contract type

Service contract

Procedure type

Open procedure (above threshold)

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements above the relevant contract value threshold.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

This is an Award Notice for the following published Contract Notice:
London Borough of Barking & Dagenham are seeking an innovative and forward-thinking Credit Union partner who is up for the challenge of developing a Community Banking offer with us. Our vision is that fair, affordable and appropriate financial products and services are available to everyone who lives or works in Barking and
Dagenham. We are looking for a Credit Union partnership to drive this forward and help us achieve our goals. The Credit Union does not have to be London based, we welcome applications from any Credit Union with excellent digital delivery.
Full details can be found in the tender documents.
What we are looking for in a partnership:
- Organisational strength and ability to grow: a credit union that can demonstrate its financial health and ability to grow an innovative offer with us in Barking and Dagenham to meet local needs.
- Products and Services: a credit union with a well-established comprehensive range of products and services that can meet different customer needs, including savings accounts, instant loans and transactional banking facilities at minimum.
- Partnership working: a credit union that can demonstrate propensity and willingness to work innovatively with the council and borough partners over the course of the contract.
- Service delivery: a credit union with a strong digital offer and can provide full, remote access to products and services via the web and/or mobile app. Other forms of engagement for those who are digitally excluded should also be available i.e. telephone
- Impact and performance: a credit union with ambitious but realistic expectations of joint performance targets and a vision for the change we aim to see in Barking and Dagenham, as well as the ability to evidence the wider social, wellbeing and local economic impact of provision
The contract is for 3 years with the option to extend for up to a further period of 1+1 years. London Borough of Barking and Dagenham will provide a number of investments to ensure the productivity of the partnership.
The contract is advertised at £500,000 however, £250,000 is the budget envelope for the duration of the contract. Additional funds over the budget envelope to grow the offer may become available during the contract, including potential capital investment. There is no commitment to additional funds at this stage.
We invite Credit Unions who meet the specification to submit a response to the Tender.

Award information

Awarded date

4 February 2022

Contract start date

11 July 2022

Contract end date

10 July 2027

Total value of contract

£500,000

This contract was awarded to 1 supplier.

Leeds City Credit Union

Address

31 Westminster Buildings, New York Street, Leeds LS2 7DT

Reference

No reference - other

Supplier is SME?

Yes

Supplier is VCSE?

No

About the buyer

Contact name

Samantha

Address

Town Hall Square, 1 Clockhouse Avenue
Barking
IG11 7LU
England

Email

swoolvett@lbbd.gov.uk