Cycling UK Forum

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If I was involved with one of the Member Groups who have funds on deposit with the CTC I would be concerned about this. In fact I would seriously consider withdrawing the funds before the AGM in May.

Our Group has only funds banked locally, not with the CTC. However I know of at least one Member Group which has a substantial sum on deposit. As the deposits receive less than the Bank Of England base rate anyway it may be prudent to move it elsewhere in any case.

as to what will happen to the Member Group funds if the merger goes ahead, I don't know. But it would be useful if someone could tell us.

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I wasn't suggesting moving them out of CTC's name, (all Group funds must be held in an accounts which includes "CTC" in its name), but perhaps moving them into accounts paying a better rate of interest might be advisable.

The query as to what happens if a Group folds/leaves CTC may not change, (ie. all funds go to National CTC) but my concern would be what would happen if he Club becomes a Charity and Members have no say in the required changes to the Mems/Articles of Association, which could possibly change the way Group Funds are treated. The savethectc site has highlighted that at the AGM we will vote on the Club becoming a Charity. That seems innocuous enough, but requires the amendment of the Mems/Articles to comply with Charity Commission Requirements. Then it seems that Council can merge the Club Charity with the Trust Charity without referring the matter to the Members. Perhaps someone from the Yes Campaign could tell me that is not the case?