Year-end results highlight a year of growth for Pennine Community Credit Union

By Daniel Arrowsmith posted 01-11-2019 17:32:46


Pennine Community Credit Union Logo

In a year where Pennine Community Credit Union (PCCU) opened its new high street branch in Burnley town centre, Marketing & Business Development Officer, David Harris is pleased with a membership increase of 32% and 36% growth in loans.

“The results are fantastic; it has been a team effort from all staff and Board members,” says David.

Analysing this year’s success, David said: “We have had a couple of years of steady growth, but this year, with the introduction of the £500 Family Loan and Saving Scheme, we have managed to connect the credit union to a new demographic.”

Grant funding from the Credit Union Foundation’s Lloyds Banking Group Credit Union Development Fund, has allowed PCCU to renovate a recently acquired town centre property. “Our new position on the high street raises awareness about our services. It is also good to be in direct sight of some of the high-interest lenders, such as the pay weekly and pawn shops, to provide an affordable alternative,” David added.

The credit union’s strong growth has allowed it to invest in more technology, recently launching the Nivo app, which gives members a more enhanced digital service from the credit union. “After demonstrations from neighbouring credit unions, we have been impressed by the options the application offers members, from the instant message format they are used to, to the ability to complete loan applications. We’re optimistic about the year ahead,” says David.