1st Alliance Community Bank Celebrates its 20th Anniversary

Friday 23 February 2024

2024 marks the 20^th year of success for 1^st Alliance Community Bank – the result of a merger of three community-based credit unions in North Ayrshire, Scotland. 1^st Alliance Community Bank serves just under 5000 people with over £4 million in savings the credit union has developed and implemented many successful solutions to assist local people.  Since its registration 31,828 affordable loans have been issued to local people totalling £26,335,331, a real impact on the local economy and in saving people from high-cost lenders.

“We have seen over the years the social symptoms increasing; these include loan broker use increase, food bank use, middle income loan arrears, gambling and the demand for non-savings-based loans,” said Ann Robertson M.B.E, Chair of 1^st Alliance Community Bank.

Ann continued: “Alongside this we have witnessed the desire of people to move towards a more ethical banking model, to deposit for the greater good and for some a move away from mainstream banks. Families are stretched financially and looking for assistance to relieve some of this financial pressure.

“We are a real solution to the challenges that people face today.  We are a local cooperative that others can by saving assist in supporting those who are challenged in accessing finance at affordable rates of interest.

“We look forward to serving the next 20 years and hope that more people will join us on the journey”.