ABCUL CEO Talks Credit Unions for Talk Money Week

Friday 26 January 2024

During Talk Money Week (6-10 November), Robert Kelly, ABCUL CEO told BBC 4 Radio listeners why more people are turning to credit unions than ever before and the positive impact the sector is making across communities in GB.

“Credit unions are providing financial resilience and empowering communities and households up and down the country” said ABCUL CEO, Robert Kelly in the BBC Radio 4 interview. Commenting on the rising profile of credit unions, Robert said: “once people are convinced of the merits, the value proposition, the products and services of credit unions they will remain loyal for the rest of their lives”.

Supporting Robert’s statement, Melanie Bishop has been a member of Bradford District Credit Union (BDCU) for over ten years, and she joined through the credit union’s efforts to expand their payroll partners, of which they now have 34.

“My savings are deducted straight from my salary […] and it’s like saving without noticing it.” said Melanie, and she praised BDCU’s payroll savings options because the money is “nestled away and I can access it whenever I want”.

Melanie further explained how doing this one thing and saving through payroll deduction has improved her financial wellbeing because “if you were saving from your normal salary […] and put £20 [to the side] it gets spent on something else, and you think you’ll [save] next month, or the next month” but payroll saving allows saving to be “instantaneous […] and that money just accrues, then it’s there whenever I need it”.

“I take any opportunity to extoll the virtues of being a proud credit union member” said Melanie, and she explained that she feels so passionately about the benefits of being a BDCU member that after her friend heard her talk so positively about the credit union, her friend has become a member and started saving.

Find more information about Talk Money Week here and see how Bradford District Credit Union has celebrated the week here.