
GCI’s constitution is unique from all other providers and as such it manages the relationship between employers and GCI so that employers don’t need a separate FCA authorisation for Credit Brokering. Its as simple as that.
Unlike others, we don’t have to scaremonger to protect an outdated business. We’re offering a genuine, innovative way for forward-looking organisations to move away from the poor value cycle to work schemes of the past, enabling them to offer their employees a better cycle to work solution. This helps more people to reduce the damage we’re all doing to the environment.
Another unique aspect to GCI is bike safekeeping. This is very important because in all plus £1,000 schemes (the model which GCI pioneered) the provider is the hirer and owner of the bikes. If the hirer were to go bust then any liquidator would be forced to maximise the hirer’s assets for the benefit of creditors and that could jeopardise the bikes your employees are paying for. With many of the High Street names struggling, this should be a real concern.
GCI is the only C2W provider who is specifically set up to ensure your employees will get the bikes they sacrificed their salary for. GCI is a not for profit social enterprise. Its constitution prevents it from taking on debt so it can’t have creditors and can’t go bust. It’s a very similar mechanism to the way a trust fund works. It means you and your employees have peace of mind whatever happens with no unpleasant surprises.