You will no doubt have been thrilled when you became aware of the drop in this coming year’s membership fee.  You may also have been wondering why??

As you know we are registered with the Charity Commission and as such have to abide with their rules and regulations.

Along with all other charities, Maghull & Lydiate U3A is required to have a policy that justifies the extent of its reserve funds. The latest guidance given on this issue by National U3A is that in the case of individual U3As, such reserves should not exceed the equivalent of the costs of running the organisation for a period of more than six months. Logic dictates that the same reserves policy is also to be applied to each individual activity. In layman’s terms this means that the reserves we have as a back up are now in excess of the National U3A’s guideline, and what better way of reducing our reserves than to give the money back to you, our members