British Credit Union Historical Society

Glasgow Credit Union Ltd.

Began in 1989 from a small office in the city chambers as Glasgow District Council Employees Credit Union reaching membership of a 1000 by April 1990. In that same year paid its first dividend of 2%. The credit union moved to its own premises at Bell Street in 1996 and this was when the credit union dropped the district from the name and with local government reorganisation expanded membership to Education and Social Services. The following year they achieved to be the first credit union to obtain the then 11c certificate allowing the credit union to use the deregulation legislation to grant larger loans for longer periods. 

One year before the tenth anniversary they reached a record 1million surplus. Whilst celebrating the 10th year of trading the credit union members raised a fantastic £12,500 for charity. By 2001 the credit union had reached 15,000 members. 95 Morrison St in 2002 became the new premises of the credit union and all credit unions in the UK enjoyed the security of savings of the financial services compensation scheme. Mortgages became available in 2004 when the Financial Services Authority granted the permission. Greater Glasgow became the expanding common bond in 2006 with the approval of the FSA to serve anyone living or working within the post code G.

The extended common bond caused the credit union to rebrand itself as Glasgow Credit Union in February 2007. Nicola Sturgeon Deputy first Minister of Scotland joins the credit union the year before the credit union celebrates 20 years of successful service to the members in 2009. 2010 we see a new logo as membership reaches 25,000 and by 2012 assets reaches over £100M. Social Media in 2017 became the focus of the credit union, membership reaches 40,000 and the marketing department wins Excellence in Communication at the Glasgow Business Awards.

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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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