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Another successful year at Commsave Credit Union reported at AGM

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25 Jan 19

Commsave Credit Union have enjoyed another successful year and were able to share this with their members at this year’s AGM. Chairman of Commsave, Mohammed Braimah was delighted to “see so many members attending our AGM to hear about another great year for Commsave”.

Mohammed shared with members a significant year of growth when comparing the credit union figures from the last five years. Loan issued to members has risen from over £9m in 2013 to over £37m in 2018. Also membership has more than doubled from just over 10,000 to over 20,000, and a growth in savings that now stands at over £47m which is a £40m increase in the last five years which Mohammed believes is important to the financial resilience of their members, “we continue to encourage our members to regularly save to ensure they have a cushion of comfort to fall back on when they need it”.

Despite the strong financial performance over the last five years, another notable highlight for Commsave was the results in their members’ survey which resulted in 97% of members satisfied or very satisfied with their service. Chief Executive Officer, Amanda Ivey says: "We have continued to deliver great service to our members which have again been recognised in our annual members' survey. At the same time, we have delivered a competitive return on savings and a loan interest rebate"

However, they continuously look to improve their service for members, after being selected to join the Barclays Credit Union support programme. They are one of 10 credit unions that have access to a range of consultants and independent experts who are working with the Board and staff to assist with the developments in key business areas.

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