By Emilia Jansson
A letter sent out to stakeholders from President Shakira Martin and action chief executive Peter Robertson, announced that the NUS has not been able to meet the £3m deficit this year and is therefore potentially facing bankruptcy.
The letter states that: “The NUS group is facing financial difficulty. We are projected to post a significant deficit this year without enough resource to cover the loss.”
The cause of the financial difficulties are highlighted in the letter including: “alongside structural problems we are facing competition in student discounts, trading support and policy and strategic support”.
Furthermore, Martin and Robertson encourage collaborative and collective work between all stakeholders to face the competition. Members are encouraged to attend strategic conversations and working with the NUS to protect the interest of students.
The NUS is taking measures to address the deficit with the aim of a financial, democratic and corporate reform by summer 2019.
The National Union of Students represents students in the UK higher and further education with around 600 affiliated Students Union around the country. It has been subject to many controversies over the past few years with Students unions such as Newcastle University and University of Hull, choosing to disaffiliate.
Benefits of being a member include the TOTUM card (previously known as the NUS extra card) which offer discounts in places around the country and training for Students Union staff and elected officers.
Cardiff University is part of NUS Wales which is the Welsh section of the NUS. NUS Wales is based in Cardiff Bay and has three sabbatical officers which include a President, a Vice President and a Women’s officer.
The NUS has faced financial difficulties before with a 700,000 deficit in 2005.