“Here’s to a successful 2019,” says East Kilbride Credit Union (EKCU), as they reflect on the first half of the calendar year and look ahead to an exciting rest of the year.
The credit union held a very successful 37th AGM earlier in the year where members heard reports from Directors of EKCU about how the business had performed.
“Over the past ten years, East Kilbride Credit Union has loaned out over £35m to our members and we are pleased to see membership growing every year,” says EKCU Manager, John Lange.
Since October 2018, members have added another £2.5m in savings deposits bringing the total to just over £9.0 million. The loan book is now just under £5.0 million with a total of over £2.6 million paid out this year. EKCU is also doing its best to get children into the habits of saving from an early age. Currently, there are over 800 junior depositors who are members of EKCU, which totals to 13% of its total membership.
The impact the credit union has in its community remains a key part of its values. John and the team were delighted to be part of the recent Challenge Poverty Event in East Kilbride. Staff and volunteers took the time to meet potential new members to explain the benefits of credit union membership.
Local politicians Linda Fabiani MSP and Westminster MP, Lisa Cameron came along to the event to lend their support. Both are strong supporters of the credit union movement and took time to speak with staff and volunteers of EKCU.
John added, “I am extremely grateful to all the staff and directors who helped out on the day. This was a very well attended event and highlighted the need for organisations in the local community to work together to help eliminate poverty. EK Credit Union members helped fill a box with items that we handed over to the local food bank.
“Credit unions still face a tough time getting their message out to all sections of the community and it is by participating in events like this that we can raise our profile.”
Earlier in the year, EKCU were also recognised in Scottish Parliament for its efforts to encourage greater uptake by employers of the payroll saving scheme. As part of a consortium of five Scottish credit unions, with support from the Carnegie UK Trust, EK CU hosts an Employer Engagement Officer whose role will help workers benefit from credit union membership via their employers.
Linda Fabiani also attended this event along with Aileen Campbell, Cabinet Secretary for Communities and Local Government. Aileen said: “It was fantastic to learn about the work of the Credit Union Consortium and the success these five credit unions have had in engaging with local employers and the benefits of working together. Credit unions contribute towards our aim of making Scotland a fairer and more equal country and I want to do what I can to grow the movement further so they can continue to put people before profit.”