British Credit Union Historical Society
Blackpool Fylde and Wyre Credit Union Ltd
The credit union was registered in February 2008serves more than 5,000 members across the local area, with savings in excess of £5 million and has loaned out more than £10 million to people in the local community. Since February
2009 they have experienced steady growth, and serve over 4,700 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 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.
Plane Saver Credit Union
Plane saver founded in 1993, by a group of British Airways engineers, based at London Heathrow Airport and operating throughout the United Kingdom Plane Saver has since developed into one of the largest employer based Credit Unions in the UK –
serving over 10,000 members and having lent over £108 million. Having provided financial services exclusively to British Airways staff for over 17 years, Plane Saver expanded its field of membership in 2010 to offer financial services to people
employed in, or associated with, one of the following: –The Airline and Transport Industry, Logistics, Engineering, Police, Fire and Ambulance Services, The Armed Forces or a family member who is living in the same household as an existing member of
Plane Saver Credit Union.They are one of the first Credit Unions in the UK to offer Secured Lending. Plane Saver has recruited over 250 members from the Armed Forces and made them loans worth £300,000, representing significant savings on the interest
many commercial lenders would have charged. In2016 the Credit Union has received a Bronze Award as part of its contribution towards the Covenant. This is national recognition for the credit union’s commitment to support the Armed
Forces community. The Credit Union in 2017 has introduced an automated SMS Survey. In order to help action and address member’s recommendations and improve the timeline towards planning decisions. With the help of two of their service providers,
they have designed a tool to capture member feedback after every phone call received. Using this member centric approach means Plane Saver will receive continuous live feedback, allowing them to adjust their products and services to meet member needs.
Eastern Savings & Loans
Eastern Savings and Loans was originally found in 2001, with the business developing today; we serve just over 3,000 members around Suffolk, Norfolk and Cambridgeshire. The experience of the past 15 years has formed quite a character of the Credit Union,
Building strong long-term customer relationships. Three of the regions credit unions announce merger discussions in 2013 with the aim of building a bigger, stronger credit union delivering better services to members. These Credit Unions were Ipswich and Suffolk,
Rainbow Savers Anglia and Norfolk to bring together the strengths of all three credit unions.
Ipswich and Suffolk ISCU is based in Ipswich but serves members across Suffolk with volunteer information points in Newmarket, Mildenhall,
Haverhill, Bury St Edmunds, Woodbridge and Felixstowe. ISCU currently has 5,500 members.
Rainbow Saver Rainbow Saver Anglia has shops in Lowestoft and Peterborough, with volunteer run points in Wisbech, Halesworth, Cambridge, Thetford
and Great Yarmouth. It currently has 4,500 members and offers a prepaid VISA Debit card alongside its savings accounts and loans.
Norfolk Norfolk Credit Union is based in Long Stratton and has a shop in Norwich, with volunteer run points
in Aylsham, Attleborough, Cromer, Drayton & Taverham Area, Dereham, Diss, Downham Market, Fakenham, Harleston, Kings Lynn, Stalham, Thetford, Watton. NCU currently has 3,000 members.
The combined credit union would have an active membership of 13,000.
In January 2014 A Transfer of engagements of Norfolk Credit Union was registered as having been transferred to ISCU. At the same time ISCU has been advised a rule change to extend the common bond to cover Norfolk was also been registered.
and Loans welcomed Lisa Nandy MP, shadow minister for the Third Sector to the credit union. The Credit Union opens a new location on the high street in Ipswich Town Centre June 2014 and Barclays Bank with Eastern Savings and Loans Credit Union announce
their joint community initiative. Barclays will be hosting Eastern Savings and Loans in the Red Lion Street Branch of Barclays for four afternoons per week from the 30th June 2014.
Members of Cambridge City Credit Union are to become members
of Eastern Savings and Loans. It is anticipated CCCU member accounts will be transferred to the ESLCU system over the second weekend in February 2015 and these members will then be able to register for online access to their accounts.
South Manchester Credit Union
After 12 years operating from a church hall, South Manchester Credit Union has moved onto the high street.
On Saturday 17th November their first office in Burnage, the Lord Mayor of Manchester, Councillor Elaine Boyes,
officially opened Manchester.
The Credit Union was formed in 2000 and previously operated from an office at the church hall of Christ Church in Burnage. A surge of new members over the past few years means that
they have outgrown their premises. They are now looking forward to serving members from their new premises, which will be open to members five days a week.
Chair of SMCU, Jeff Senerviratne said, "This is a new beginning
for the credit union. South Manchester Credit Union has opened a community branch at ‘The Place at Platt Lane’ Friends of Fallowfield , local residents and City South Housing has all paid off and this new community resource is a breath
of fresh air for Fallowfield.
The Credit Union has reached a significant milestone. Since we opened our doors in the year 2000, we have now issued more than 15,000 loans to members for a combined total of more than £10 million.
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Fallowfield Credit Union Manchester
Discussions began in 1992 after Fr Murphy of St Kentigern’s spoke to a number of parishioners about the setting up of a credit union for the parish. After some time over the year a committee was put together in 1993 and people were invited to
join the study group. Training then began with the help of Manchester City Council. Pat Dillon Frank Duffy, Rob Galvin and a representative from Manchester City Council visited Clydebank credit union in Scotland to look and learn from their operations.
The Credit Union was first registered in April 1994 and the first loans were granted in April that same year to a Mrs Mary Edge.
The registered office of the credit union was at St Kentigerns social centre 36 Wilbraham Road, Fallowfield, Manchester.
There has only been the one collection point and the credit union still operates a manual accounting system, with volunteers and no paid staff. There are 400 members to date and 90 junior members. In the first year total loans were about £2000 but over
the 21 years in operation the credit union has lent out nearly £3 million. The Credit Union may consider merging with a larger credit union in the future and the subject remains on the agenda for discussion at board meetings. Merger in 2017 has now been
agreed with South Manchester Credit Union.
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Berkshire Credit Union
Stephen Magee worked steadily to gather support from local organisations and in 2007 the Reading Credit Union began its operations when member number one was signed up.
The Reading Credit Union grew steadily and by early 2009 had over
400 saving members and a developing loans business. During this period many requests were received from other communities across the county of Berkshire to expand its area of operations.
As a result in 2009, a Project Group was set up to expand
the Reading Credit Union. The project successfully completed its work when in August 2010, Community Savings and Loans Ltd came into being. This new organisation, building outwards from Reading now covers all areas of Berkshire.
Contact www.cslberks.org.uk e-mail email@example.com Ph. 01189585803
London Plus Credit Union
launched its services in November 2008 in the heart of Fulham. In our short existence we have grown tremendously and as such are delivering competitive and affordable products to our membership which is forever growing. We have adapted our reach in
line with demand and need for the communities that we serve. Ten years on sees London Plus with over 60% of transactions now processed online. The contactless debit card works exactly as any high street bank card and being fully integrated means that
they are becoming a one stop shop for all members.
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London Mutual Credit Union
Established in 1982 to provide Credit Union services to employees of the London Borough of Southwark It has merged with 6 of the local Credit Unions. Now it is the only Credit Union in Southwark, Lambeth, and Westminster & Camden providing wide
range of products and services together with five dedicated branch offices where members could access the services. It was also the first credit union in the UK to operate a payroll deduction scheme.
As a full-service financial institution, London Mutual
Credit Union (LMCU) is the largest live or work Credit Union in London, with over £19million in assets, and over 21,000 member-owners (September 2014). LMCU has 40 professional and knowledgeable employees, and is comprised of five branches and a head
office in Peckham, London. The new head office (pictured) building at 4 Heaton Road, Peckham was opened on the 24th February 2012. In 2016 London Mutual has also launch ed a new debit card programme, powered by Optimus Card Group. London
Mutual says the new debit card scheme – in partnership with Mastercard – “brings true, fully functional debit cards to credit union members across the country for the first time”.
Crownsavers Credit Union
Crownsavers exists to encourage savings and provide access to low interest borrowing, enabling its members to save and prosper whilst promoting the ideas and ideals of financial co-operation within organisations in the Borough of Lewisham.
Employees' Credit Union (Crownsavers) has been providing its services for 18 years. It was founded in July 1997 with the full support and a small grant from Lewisham Council to enable the Credit Union to offer an additional benefit to it’s
employees, at the start the Credit Union was open just to those employees working for the Council. The Credit Union officially extended its common bond a few years later to include Lewisham University Hospital and Lewisham College.
In 2009 the credit
union again extended its common bond to everyone employed in the London Borough of Lewisham.
Crownsavers now operates successfully, with current active membership of 1500 that includes growing family and junior account holders, members asset of over
£1.8m and a loan portfolio of £1.4m.
Manchester Unity Credit Union Limited
Credit Unions in the Oddfellows
They were started in the Midlands in 1991 and grew until membership in 2001 was 180 They were followed by North London in 1994 with approximately 40
members but no growth by 2001 Yorkshire started with a savings group 1997. By this time the regulator, the Registrar of Friendly Societies was taking more interest and a two-year training programme was undertaken leading up to a two-hour interview with a representative
of the registrar. They were finally registered in January 1999.
Late in 1999 Government announced that credit unions would come under the Financial Services Authority and with the increase in legislation which followed it became
apparent that the three credit unions could not survive individually. Talks took place between the credit unions and the Board of the Oddfellows to seek their sponsorship which resulted in Manchester Unity Credit Union Ltd coming into being on 1st September
2001, with a common bond covering England, Scotland and Wales.
Membership today has passed the 600 mark and the Credit Union has its own administrator based in Manchester
National Fire Savers Credit Union
The National Fire Savers Credit Union was first established in 1998 as a credit union for London Fire Brigade staff (The London Fire Savers Credit Union). Here are some key dates and milestones in their development
Sub Officer John Etheridge forms group to establish a new credit union for London Fire Brigade.
June 1998, London Fire Savers Credit Union registered with Registrar of Friendlily Societies (No. 541C) and starts trading with 500 members.
September 1999, Assets exceed half a million pounds.
May 2000, First full time staff member recruited.
November 2001, FSA take over from Registrar of Friendly Societies as regulatory body.
London Fire Savers Credit Union registered as No. 213995.
January 2001, the 1,000th member joins.
February 2009, Offices relocate to new LFB headquarters at Union Street
August 2009, new
model rules registered with FSA.
April 2010, National Fire Savers formed by the extension of common bond to include all fire & rescue authorities with England, Scotland & Wales.
Assets exceed three million pounds.
May 2012, Offices relocate to Linton House, 164-180 Union Street and third full time member of staff recruited.
March 2013, Share deposits in NFS exceed four million pounds.
January 2014, offering their staff payroll deductions affiliates North Wales Fire & Rescue to the Credit Union.
March 2014, Share deposits in NFS exceed five million pounds.
Northamtonshire Credit Union
Northamptonshire Credit Union
Began life as Northampton Credit Union in May 1997, offering services to the staff of Northampton Borough Council. It rapidly expanded to take in all people living or working in Northampton, merging
with smaller credit unions as it grew. It was 2003 when the common bond was extended and covered the whole of Northampton allowing the merger of Heath Credit Union. 2010 with the help of funding from the DWP growth fund the credit union increased its membership,
employed staff and moved to new premises. By 2012 the credit union expanded to cover the whole of Northamptonshire. In the spring of 2013, three credit unions in the county, namely the Northampton Credit Union, the Golden Sheaf Credit Union in Kettering and
the Five Wells Credit Union in Wellingborough, merged to form the Northamptonshire Credit Union. At the same time the common bond was expanded to take in the Cherwell district of Oxfordshire. To help people across the catchment area to access the Credit Union's
services, they ran various collection points in addition to the main access point at the One Stop Shop within Northampton's Guildhall. The credit union works in conjunction with East Midlands Credit Unions (EMCU) and especially Clockwise Credit Union to
offer current accounts and budget accounts to all members. Further expansion of the common bond in 2016 covered parts of Oxfordshire Buckinghamshire and Bedfordshire and mergers took place with Weston Favell & District Credit Union, (Northampton) and Blackbird
Leys Credit Union (Oxford). In celebration of the 20th anniversary 2017 and in recognition of the expanded area, the credit union has taken on a new name and logo “HARVEST MONEY”. with more than 7,000 Members an estimate
that in the last five years alone have saved members more than £1.4 million in interest payment. 2017 also the credit union has also issued loans totalling £752,000 during the year and signed up 771 new members.
Cleator Moor & District Credit Union
Cleator moor & district cu
The establishment of our credit union grew from a joint Church initiative in 1994.The aim was to provide an alternative financial service locally that would
help break the cycle and high level of dependency of families and individuals on doorstep and other unscrupulous lenders operating in the community.
The credit union was legally registered in October 1995. In 2014 our credit union, in order to safeguard
and ensure its ongoing financial self-sustainability, successfully sought approval to extend its common bond area to enable it to offer membership and access to its products and services to anyone living or working in the Borough of Copeland.At the end of
September 2014 we had over 1,600 members and since 1995 we have approved 6,020 loans to our members amounting to more than 5 million pounds.
Our future aspirations
Going forward we aim to maintain and enhance our current financial
self-sustainability through increased membership and the uptake of our products and services. We are committed to working in partnership with other local credit unions to help promote and sustain the long term survival and expansion of the credit union movement
throughout the whole of Cumbria.
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South lakeland Credit Union
History. In 2010, the Cumbria Financial Inclusion Strategy’s priorities were to reduce the reliance on high cost lenders within Cumbria through the provision of affordable credit and responsible lending.
Their vision was to encourage saving and financial capability for the people of Cumbria and they identified credit unions as having the potential to be a key way of tackling financial exclusion as they are non-profit making and already had a strong presence
in many of the financially excluded communities.
There were five credit unions in Cumbria at that time – Carlisle, Allerdale, Whitehaven & Egremont, Cleator Moor and Millom. However, despite credit union membership in Cumbria growing by 3,000
since 2007, the people of the Borough of Barrow in Furness, Eden and South Lakeland did not have access to credit union services. To this end Gordon Henry was employed as Credit Union Development Officer to help establish credit unions in these areas.
With the support of the Development Officer and under the Chairmanship of Carl Glyn the South Lakeland Study Group was launched at a public meeting in 2010. All members of the Study Group were volunteers and their remit was to demonstrate the level of need,
support and demand for a credit union within South Lakeland and to make the business case for setting one up. They adopted a constitution, opened a bank account and obtained approval from the Financial Services Authority (FSA) to use the words ‘credit
union’ in the Study Group’s title.
The next few months were spent recruiting new members to the Study Group and raising public awareness of the plans for and the benefits of a credit union. This was achieved through a public pledge campaign
to evidence demand, setting up a website and making presentations to numerous groups and organisations throughout the area. Around 30,000 pledge leaflets and forms were delivered to households throughout the community, this resulted in over 1000 pledges of
support for the new credit union.
Members of the Study Group also spent many hours developing a fully costed business plan, as well as the successful submission of grant applications totalling just under £100,000 to help with the operation of
the new Credit Union. With funding in place and the business plan developed, our application for authorisation was submitted to the Prudential Regulatory Authority (PRA) in 2014. In August 2015, after many frustrating months of consultation, we were given
approval by the PRA to operate as a fully fledged credit union. Our official launch took place on Nov 12th 2015 at Kendal college in the presence of local dignitaries MP Tim Farron, Lord Mayor Chris Hogg, Police
& Crime Commissioner Richard Rhodes, High Sheriff Sam Rayner, and Peter Thornton Leader of the Council .
Our opening means that the whole of Cumbria has access credit unions dedicated to support local communities. Carlisle has a long established
credit union; Barrow in Furness and EdenSave Credit Unions have now opened while Millom Credit Union has just joined forces with Whitehaven & Egremont Credit Union and Allerdale and Cleator Moor Credit Unions have also got together
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Hoot Credit Union
Bolton’s Quids In Credit Union was with the support of Bolton MBC and partly financed by European Union money, the organisation opened for business in February 2005.
Just months after its launch, Quids
In merged with the 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 on 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.
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.
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.
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 officially awarded Fairbanking Mark a five star rating to their personal loan products
Co-operative Credit Union
Formed in 1998 the Co-operative Family Credit Union was set up for co-operative group employees and their families. It is now open to employees and pensioners of a range of co-operative organisations all across the United Kingdom. Changes in legislation
gave a lot more flexibility about who could join and who could not. The Credit Union received a large award of £100,000 in 2014 to support their reserves and allow them to investigate the feasibility of their plans for growth. The credit union was seeking
to extend its membership beyond employees of the Co-operative Group to allow it to serve people employed by or associated with a wide range of organisations in the co-operative and third sector. The Co-operative Credit Union now serves members of the USDAW shop workers trade union, members of the National Association of Co-operative Officials, members of the Co-operative Party, and
employees of the mid counties Co-operative Society as well as 8 other new partner organisations. As a result, the credit union added more than 1,000 new members in a year – an increase of more than 20% – and is well on its way to reaching
its ambitious target of 10,000 members in 2017.
After 20 years of dedicated service to the sector, CCU now has seven members of staff and 25 volunteers helping sustain the credit union. At the 2018 AGM, CCU reported on their end of year finances
and announced to members that they had managed over £5m of members savings and given out loans of £2.5 m. Celebrating their 20th anniversary year of operation pride was expressed that from a relatively modest beginning the credit union has grown
into a thriving operation, serving the needs of more than 8,000 members, and their families, drawn from a range of co-operative and mutual organisations across the UK.
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Castle & Cristal Credit Union
Established in September 1993, Castle & Crystal was originally an employee based credit union, operating for the benefit of Dudley MBC employees. Twenty years later, our services have now become widely available to everyone living
or working within the Dudley borough, the county of Worcestershire and to partner organisations that are included in our Common Bond. The future vision is to have a branch in each of the four main townships in the borough
of Dudley, namely Dudley, Stourbridge, Halesowen & Brierley Hill and also a number of branches across the county of Worcestershire.
The head office in Dudley services the needs of our 4000 active members, who come from
all walks of life & enjoy the same standard of excellent customer service during every visit. Castle and Crystal has taken advantage of recent changes in legislation meaning credit unions can now offer corporate accounts to organisations as well as individuals.
During 2013, Castle & Crystal have welcomed over £100,000 in investments from local organisations, community groups & churches alike. Their investment into the credit union will increase the supply of affordable credit providing competitive savings
and loans for the members. This ultimately continues to help the economic development and stability of communities within the local area regardless of location. The Mayor of Dudley, Councillor Steve Waltho, marked the achievement of serving its
10,000th member with a special presentation in April 2016.
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