British Credit Union Historical Society

Adventist Credit Union Ltd

In 1984, a group of concerned Seventh-day Adventist men (Sam Cozier, Keith Davidson, Osrique DeCoteau, Lambert John, Algernon Joseph, Andrew Joseph, Alfred Officer, Martin Rodney, James Ryan and Livingston Weekes), encouraged by Pastor Everett Howell, decided to act to encourage fellow Seventh-day Adventists across London to take on a new vision of wealth development in an effort to build the economic strength of our people. On 27 May 1984, the LONDON ADVENTIST SAVINGS CLUB was born, determined to challenge their members into a renewed and disciplined approach to saving.  By November 1984, the club’s assets had grown to £1,287.64. Only 4 years later in 1988, the decision was taken to upgrade the Savings Club to Credit Union status, and on 11 March 1988, The Adventist Savings Club became The NORTH LONDON ADVENTIST CREDIT UNION LTD (NACU), and under the chairmanship of the late Osrique DeCoteau, NACU was registered under the Registrar of Friendly Societies (no. 101C). At accounting year end, 30 September 1992, by then under the chairmanship of Alfred Officer, NACU’s total net assets stood at £209,309. By the first quarter of 2001, the credit union territory was expanded and its name changed to   The LONDON ADVENTIST CREDIT UNION LTD (LACU). Then, in recognition of the credit union’s new UK status, at the ACU Annual General Meeting held on 22 May 2016, the members voted to change the organisation’s name to THE ADVENTIST CREDIT UNION LTD (ACU).

Colechester Credit Union Ltd

Formed in 2002, is a Savings and Loans Co-operative open to anyone over the age of 18 years who lives, works or studies in the Borough of Colchester or District of Tendring.  Tendring District Council, and Colne, the Essex-based housing association, have teamed up to encourage people to join Colchester Credit Union. Tendring District Council will pay the joining fee for anyone living or working in the district. In addition, Colne is supporting its Tendring households by contributing £10 when a savings account is opened (one £10 contribution per household). A Young Savers Club is free to join and available to those under the age of 16.  collection points Available at: Clacton Town Hall on Thursday's - 01255 686465.  Open 10:00am - 12:00 noon Manningtree, The Hub on Friday's - 01206 398082. Open 10:00am - 12:00 noon there are collections at a number of schools throughout the area. Savings can be of any amount up to a maximum of £15,000.00 and at a frequency to suit the saver’s circumstances. Normally loans may be granted after a short period of saving but small emergency loans can be considered outside this policy depending on circumstances. 

Harlow Save Credit Union Ltd

 Began as Harlow Credit Union registered in February 1981, Harlow District Council Credit Union began in May 1988 and Harlow Co-Operatives Credit Union Limited in January 1992 all got together with one other to form Harlowsave credit union in early 2002. This created a stronger, more sustainable organisation to serve Harlow. Harlowsave currently has just over 1,500 members and is run by a team of 8 permanent staff, 8 volunteers and 7 volunteer directors. In February 2015 launched CU Loans Local which was attended by Robert Halfon MP and local retailers. The feedback from retailers was very positive. The same retailers offer Harlowsave members a 10% discount on purchases. The credit union has paid an annual dividend in 2016 and 2017 at 0.5% which is equal to current bank base rates. Harlowsave is a founder member of CUT (Credit Unions Together) a secondary co-operative as a way for a group of Credit Unions to do things that help achieve their aims that they would not be able to do by themselves. 

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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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