British Credit Union Historical Society

South Manchester Credit Union Ltd

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 they opened the doors in the year 2000, and have now issued more than 15,000 loans to members for a combined total of more than £10 million. Fallowfield Credit Union considered merging with a larger credit union in the light of more regulation and the need to upgrade services for the future and the subject remained on the agenda for discussion at board meetings. Merger in 2017 had now been agreed with South Manchester Credit Union

Fallowfield Credit Union began with discussions 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 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 Kentigern’s social centre 36 Wilbraham Road, Fallowfield, Manchester. There has only been the one collection point and the credit union still operated a manual accounting system, with volunteers and no paid staff. There were 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 had lent out nearly £3 million.

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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.

14.07 | 04:57

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

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

23.11 | 16:41
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