‘A brave and radical idea’ – Penny Post Credit Union celebrates its 25th Anniversary

Wednesday 17 January 2024

Last Sunday, 31st January 2021, Penny Post celebrated its 25th Anniversary. From small beginnings, Penny Post Credit Union has grown substantially over the past 25 years and  serves over 11,000 members and holds over £30 million in assets.

Commenting on the milestone, Penny Post President, Dave Jones said: “It is 25 years since a consortium of Royal Mail Managers and the CWU came up with the idea to start a Credit Union.  Graham Jones, who is still serving on the Board, and Vera Kelsey and Helen Nuttall who are now employees of Penny Post, were 3 of the main initiators. What a brave and radical idea!”

Penny Post CEO, Matt Goulding said: “January 31st 2021 marks 25 years of providing an ethical financial alternative to Royal Mail employees and their families. Since it was established in 1996, Penny Post Credit Union has lent over £75 million to our members and paid out over £4 million in dividends on savings.”

Following extensive research, catching up with colleagues, ex-directors and volunteers, Penny Post has created a 25-year Timeline.  Penny Post Customer Services Supervisor, and CU Futures graduate, Jas Kaur: said “I was fascinated by the time line.  To think I was only 4 when Penny Post purchased its first computer!”

To include as many members as possible in the celebrations, Penny Post has launched a special Anniversary Loan Offer.  Members can get up to £250 cash back, when taking out or topping up selected loans during February and March.  “The ‘Anniversary Reward’ from us to our members is another way to say ‘thank you’ for their support over our first 25 years!” said Matt Goulding “Overall, Penny Post Credit Union is in a very strong financial position and we see tremendous opportunities in our 25th anniversary year and beyond. We will be celebrating this milestone in our history with a number of activities and events throughout the year that will recognise our members, staff, stakeholders and the Royal Mail community.”

Congratulating Penny Post for its 25^th anniversary, ABCUL CEO, Robert Kelly said: “On behalf of the entire Association, I’d like to express our congratulations to Penny Post Credit Union for reaching this terrific milestone and for providing a vital service in the Postal Service for a quarter of a century.

“Penny Post Credit Union is no different to the humble origin stories credit unions across the country have when first formed and I’m delighted this can be remembered with Penny Post’s 25 – year timeline.”

To launch the celebrations, the Credit Union launched a special 25th Anniversary Members’ Draw with a £3,500 prize fund.  Winner of the £1,000 first prize was Emily Buckley from Shrewsbury who has been a member since 2010.