British Credit Union Historical Society

Tail o' the Bank Credit Union Ltd

It was established by local priest Father Jamieson and minister Reverend Iain Fraser to help families who had lost their livelihoods when the shipyards closed. The Study group began in 1982 took sometime till it became established in 1985 as Greenock East Credit Union initially operated from locations such as community halls and schools on various housing schemes in an area of high unemployment. In 1999, they moved to premises close to Greenock town centre and becoming one of the first credit unions in Scotland to buy premises outright. With the move came a new name., it became ‘Tail o’ the Bank Credit and had gone from strength to strength acquiring around 50 new members a month, amalgamating with another credit union. its common bond expanded to take in the entire local authority area with the Larkfield, Branchton and Braeside Credit Union joining forces. Tail o' the Bank CU premises were ideally situated, right next to the bus terminal, so everyone could see the shop front as the first port of call. The common Bond is for people residing in the boundaries of the South side of the River Clyde, East side of Bank Street, William Street, Wellington Street, Mearns Street, Drumfrocher Road, South side of Kilmun Terrace. South side of Renton Road including Riverdene Estate. The east side of the Gibbshill feeder Road to Pottery Street and the River Clyde.Now in 2016 membership has grown to over 8000 and that includes young members for the future.

No website 24 Kilblain St, Greenock, Renfrewshire, PA15 1SR

Phone  01475734655 E-Mail

Value Credit Union Ltd

 Value Credit Union is believed to be the oldest retail employee credit union in the UK Started and registered as Co-Operative Wholesale Society (Scotland) Credit Union in June 1988 with the office based with the payroll department of the Co-operative Wholesale Society. By 1997 membership had reached 1000 continuing with steady growth and by the year 2000 were in the position to purchase their own office in Glasgow City Centre with now 2000 members and began to employ full time staff. After 15 years of trading in September 2003 there was a name change to The Co-operative group (Scotland) Employee Credit Union with savings reaching 2 million. The launch of an interactive website came in March 2004 and well received by the membership. In 2006 the name of Value Credit Union was registered with the common bond successfully extended to include the whole of the UK where member ship increased to 4000 by 2012. A dividend of 2.5% was agreed at the AGM in November 2013 in celebration of 25 years of service to members. In summer 2014 the credit union launched their new and exclusive mobile phone app. Hundreds of members took advantage in downloading the app a positive response that exceeded expectations. In 2018 the 30th year of trading at the 29th AGM the 0.5% dividend and 5% loan interest rebate was paid  for the first time in recognition that members should share in the success of the credit union.

Forres Area Credit Union Ltd

began business in 1995 giving loyal service to the residents that over those years have been part of the common bond. These are people who live or work within the counties of Moray and Nairn. Group memberships are also available to community groups operating within these areas. The credit union also supports accounts for Junior savers. With some funding from the Scottish Government part time workers were enabled to support schools’ savings schemes. Dallas, Andersons, Applegrove, Kinloss and Greenwards Primaries are now going from strength to strength. The children with the support of an adult, collect the savings, total them up, record the amounts into the savings books and complete a collections’ sheet. Moving premises a few times over the years has been an necessary expense to keep up with the level of service to members. The credit union in September 2017 employed a development manager with accounting skills to take the organisation forward into the future. Membership has increased to over 2000 and continues to grow. The board is always looking for new volunteers in helping with the decisions of the board.

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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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