Seven credit unions granted 5 Star Fairbanking marks

By Patrick Thorpe posted 04-07-2019 18:06:57


This week, the Fairbanking Foundation has granted its 5 Star Fairbanking Marks to seven credit unions.

“We are absolutely thrilled to have granted 5 Star Fairbanking Marks to seven further credit unions. This further underlines the quality of their loan products and means we have nearly 10% of all credit unions across the country with Fairbanking Marks,” says CEO of the Fairbanking Foundation, David Coe.

The Fairbanking Mark is awarded by the Fairbanking Foundation following a rigorous assessment which includes independent research involving the customers or members of a financial services provider. To receive the Fairbanking Mark, this research must confirm that customers have changed their financial behaviour for the better by having the product.

The 5 Star Fairbanking Mark is the highest possible award granted for loan products and now 24 credit unions across Great Britain have received it for their loan products. The most recent of which are:  Advance Credit Union, Cardiff & Vale Credit Union, Croydon Plus Credit Union, First Rate Credit Union, Lanarkshire Credit Union, Riverside Credit Union and Penny Post Credit Union.

“Everyone at ABCUL is absolutely delighted to see that an additional seven of our member credit unions have been granted 5 Star Fairbanking Marks,” says ABCUL CEO, Robert Kelly. “The awards reflect our sectors commitment in leading the way to improving financial wellbeing in communities and I congratulate all 24 credit unions that continue to demonstrate this in their product base and service delivery,” Robert added.

CEO of Advance Credit Union, Philip Cole said: “As a credit union we are passionate about providing the best customer service and quality products to our members. A 5 Star Fairbanking Mark confirms that we are achieving our aims. This also provides reassurance to new customers and partner organisations that our members financial wellbeing is at the heart of what we do.”

Operations Manager of First Rate Credit Union, Mike Barry said: “This is a real testament to the fact that we are not just another lender, we are a cooperative dedicated to the financial wellbeing of our members and to BAE Systems people nationwide. This is a great addition to this credit union’s 37 year history of member services.”

Lanarkshire Credit Union states: “We are devoted to ensuring that our members are at the core of everything we do and this award cements LCU’s position of being at the forefront for relevant products, ethical lending & exceptional customer service. As we have always said, its people helping people – plain and simple”.