Tail O the Bank Credit Union saves £1m for its members in record-breaking period

By Patrick Thorpe posted 16-04-2019 16:28:54


Volunteer of over 30 years of service records hugely successful period of savings for members’ as he says farewell to the Tail O the Bank

The Scottish credit union has overseen a hugely successful period for lending with £2.5 million currently on loan and its 8000 members saving up to £1 million in their Christmas Savers Club.

Lee Hendry who has worked at the credit union for over 31 years is stepping away from his role as a volunteer but has left behind a proud legacy for future staff and volunteers to follow in his footsteps. Chairwoman Sandra Wilson, another long-standing volunteer, said: "Lee will be missed - it is people like him who have kept the ethos of the original credit union going".

Speaking about the credit unions gradual progression over the last 30 years, Lee said: “I will always be very proud of what we have built at the credit union.

"We don't have customers here, we have members, and everyone belongs to the credit union. I have made so many friends along the way. I only came in for a fortnight to help cover and I have been here for 30-odd years. I am a volunteer but I worked six days a week."

Like most volunteers, Lee's involvement began when he joined as a member. It was established by a local Priest and Minister Reverend to help families who had lost their livelihoods when the shipyards closed.

At that time the credit union worked in the hundreds, taking small savings and handing out small loans. Now they finance cars and home improvement projects but the idea of regularly saving money remains.

Now that the credit union has £2.5 million loaned out a has had huge success in its Christmas Club project, the Tail O' Bank team are currently focusing on setting up in schools and encouraging young people to come on board. Sandra added that: "We feel such a huge responsibility to the community”.

Source: Greenock Telegraph