British Credit Union Historical Society

Cash Box Credit Union Ltd

The Credit Union for Tameside Employees Limited in May 1995 and traded till May 2004/5 when the merger of several smaller local credit unions brought about the name Cash box and a community credit union for savings and loans, where members could pool their savings to lend to one another and help run the credit union. Members come from Tameside and Glossop; this is the common bond. Membership has grown over the years since the introduction of members living or working within the common bond. The credit union is regarded in its community as the fairest source of credit and has saved its members £495,000 in interest charges when compared to doorstep lenders’ rates. Phyllis Turner was invited to a garden party hosted by her Majesty the Queen at Buckingham Palace in June 2018. Volunteers and staff members of Cashbox Credit Union attended in September the same year a special event at Gorton Monastery, where they were presented the Queen’s Award for Voluntary Service. The strength of Cashbox is the bond between many volunteers and a few paid staff.

Blackpool Fylde and Wyre Credit Union Ltd

The credit union was launched in a small council back office and registered in February 2008 Since February 2009 they have experienced steady growth, and now serve over 5000 members across the area with affordable loans and easy savings accounts. Accumulating over £5,000,000 in savings and issuing over £13,000,000 in affordable loans since the launch. In November 2017 the Credit Union, which also traded as Guild Money from March 2014 in Preston, has a brand-new name and a fresh new look as it seeks to help more people than ever before. CLEVR Money started trading in August 2017 was a move that signalled the start of a number of changes designed to improve customer services, launch new products, and help the business to grow. This Credit Union has become a vital source of savings and affordable credit to employees of 42 local employers through payroll deductions and to the wider community including those excluded from traditional banking, and its space in the market place has never been more needed and clearer. The expanded common bond and the launch of a highly professional branch right in the town centre. In the same period high interest lenders who surrounded the credit union like The Money Shop, Cheque Centre, Perfect Home and the log book loan company have closed down and left town. The likes of Brighthouse struggling to keep their doors open and even the giants like Wonga reportedly on the verge of bankruptcy following years of irresponsible lending.

CLEVR & CLEVR Money are registered trading names of Blackpool Fylde & Wyre Credit Union Limited.

Hoot Credit Union Credit Union Ltd

Following three years of research and planning, approval was given to Quids in Bolton Credit Union on the 15th of April 2004 by the Financial Services Authority (FSA), which authorizes and regulates the UK’s major financial institutions. With the support of Bolton MBC and partly financed by European Union money, the organisation opened for business in February 2005. Its founding principles remain the same to this day: to encourage people to save and give everyone living, working or studying in Bolton access to affordable credit. Just months after its launch, Quids In merged with a 25-year long-established Johnson Fold Credit Union to create a borough-wide organisation. It enrolled its 1000th member days before its first anniversary in 2006, making it one of the fastest growing credit unions in the UK, and later that year joined a Government-backed scheme enabling it to offer instant loans to members without the prior requirement to serve a qualifying membership period.

The credit union paid its first dividend to members' savings in 2007 and that summer was named Community Business of the Year at the Bolton and Bury Business Awards, providing official recognition and endorsement of its work in tackling financial exclusion in the borough.

In 2008, membership topped the 3,000 mark and the total loaned to its members passed the £1 million milestone.

In 2009, Bolton MBC transferred its lead role in sponsoring the credit union to an associate organisation, Bolton at Home, which entered into partnership agreement to provide it with advice, support and resources. Later that year, in order to help broaden its appeal, Quids In was rebranded as Hoot - wise with money.

In order to provide access to more people within Bolton the credit union realized that it needed to take its services into local community areas. In 2010, the credit union with the support of Bolton at Home won a funding bid from Barclays Community Finance Initiative, which provided the credit union with funding to develop the project.

Since moving into the Town Centre Office on Ashburner Street the credit union has grown to over 4500 members with ambitions to increase membership year on year. In July 2013 the membership criteria for the credit union was expanding to include people from Bury and parts of Salford, Wigan and Blackburn.

Hoot in 2015 invited its founding members to celebrate the credit union’s 10th birthday, including “member number 1” Frank White and another of the first savers Gail Battersby. 2016 Hoot was officially awarded Fairbanking Mark a five star rating to their personal loan products

http://www.wisewithmoney.org.uk/  

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18.08 | 14:55

I am very proud to be a part of the credit union and the ethos of people helping people.

Congratulations to No1 CopperPot.

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14.07 | 04:57

A very inspiring and educational experience. It awaken my interest to serve the community.

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01.07 | 13:06

As schools Development Worker for Unify Credit Union, I found the schools project resources very useful.... some really good ideas, Thank you x

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18.01 | 11:26
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