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This week the Money and Pensions Service (MaPS) announced its ten-year strategy to improve financial wellbeing in the UK. As reported by MaPS this week, 11.5 million people in the UK have less than £100 in saving to fall back on, while nine million people said they often use credit cards and payday loans to meet essential weekly food and energy bills. MaPS has set out its ten-year plan to improve ...
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The faith-based credit union is celebrating forty years of service to its members this year and to mark this special landmark, Chief Executive of Pentecostal Credit Union (PCU), Shane Bowes is spearheading a number of celebrations including a reception at the House of Commons. Speaking this week to Inspire Magazine, Shane said: "The PCU is proud of its many achievements during the past 40 years. ...
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Last week, the Centre for Community Finance Europe welcomed credit union members and guests from Britain and Ireland to kick off 2020, for its third conference in Manchester. Almost 100 delegates from over 50 organisations from Britain, Ireland, Romania and the USA came together to explore the theme of 'Serving the needs of members today and tomorrow’. A diverse range of speakers presented ...
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Last month, Enterprise Credit Union announced it lent more than £8 million to its members over the Christmas period. Over 8,300 loans were issued at an average of £1,000. Enterprise Chief Executive, Karen Bennett said: “We’re delighted that we can help so many of our members at such an expensive time of the year. It’s not always easy and it’s assuring to know they don’t have to turn to predatory ...
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  Last month, at the ninth edition of the annual Edward Filene and Joe Biden awards, the Lifetime Achievement Award was presented to the British Credit Union Historical Society, and its three founders – James Clancy, Frank Duffy, and Martin Logan. The award was presented to the Historical Society for having given unstinting and entirely voluntary efforts, to the credit unions sector. The ...
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Last month, the winners of the Credit Unions of Wales School Partner competition were announced. Member of Gateway Credit Union, Lola Holmes designed a winning poster to highlight the importance of a schools’ credit union savers club. She was joined by a group of fellow pupils from Llanyafon Primary School for a tour of the Welsh Government building and a special presentation ceremony with Jane ...
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Last month, more than 18,500 members received an early Christmas present, courtesy of the NHS Credit Union. The credit union held its AGM in December when the dividend for the year was agreed at 1.5%. CEO of NHS Credit Union, Ruth Dorman said she was ‘delighted’ at the increasing level of dividend. It’s the sixth year in succession the dividend payment has risen – taking it to its highest figure ...
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In East Sussex, an area with one of the highest homelessness rates in England, East Sussex Credit Union (ESCU) is addressing the need for affordable loans. Working with a local charity, ‘Umbrella Brighton and Hove’, a fund which helps homeless people secure accommodation in the private rented sector, the credit union is providing interest-free loans for rent deposits, rent in advance and letting ...
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To celebrate the New Year, Police Credit Union (PCU) is pleased to announce the launch its new umbrella brand, ‘Serve and Protect CU’. The brand launch is part of the credit union’s long-term strategy to help represent the various markets it serves – with over 30,000 members throughout the Police, Armed Forces and Prison Service. Developing specific products and services based on its members’ ...
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The first winner of the new PrizeSaver account received £5,000 last month, winning the cash prize just in time for Christmas. The lucky saver, a postal worker from London, opened one of the new PrizeSaver accounts with participating credit union, Commsave. The prize draw is part of a new collaboration between the Treasury and 15 credit unions across Britain to pilot a prize-linked savings ...
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Teresa Manning, Chief Executive of Clockwise Credit Union, has been awarded an MBE in the New Year’s Honours List for ‘services to financial inclusion, to the Credit Union movement and the community of Leicestershire.’ Teresa said: “I am still surprised but obviously delighted. I consider it an honour for all staff and volunteers of Clockwise who have contributed to the work of the credit union ...
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Eastern Savings and Loans Credit Union (ESLCU) look back at another good year of business and for the first time has achieved the significant milestone of a million-pound loan book. The credit union has also reported a profit for 2018/19 and promised to share this with its members through the payment of a dividend. ESLCU Chief Executive, Chris Mole said: "We have grown the number of people ...
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