GMB Credit Union Reports Strong Financial Performance at AGM

Friday 4 April 2025

Since its establishment in 1999, GMB Credit Union has been dedicated to providing GMB members and their families with simple and fair options for savings and loans.

At its Annual General Meeting held on 29 March 2025, David Castledine, Director & Treasurer of GMB Credit Union, reflected on the financial successes of the past year despite challenging economic conditions.

“While 2024 was marked by a stagnant economy, weak demand, and rising costs, making it a difficult environment for business growth, GMB Credit Union successfully navigated these challenges. We achieved increased income and maintained a balanced expenditure budget, resulting in a surplus of more than £400,000,” Castledine announced.

This financial strength allows GMB Credit Union to pay a dividend to its savers and continue reinforcing its balance sheet, positioning it for further success in 2025.

With a strong commitment to fostering financial well-being, the credit union focuses on building meaningful relationships with GMB Union members, ensuring they have responsible solutions for managing their money. By being part of a supportive community, members gain confidence in their financial decisions and work towards achieving their long-term financial goals.

“GMB Credit Union continues to go from strength to strength, and our actions reflect our successes. Our vision is to expand our membership base, ensuring that more GMB members are financially supported by our great credit union. Let’s get to work together,” David concluded.

Commenting on this positive report from GMB Head of Member Engagement at ABCUL, Debbie-Smith Hands said: “With a commitment to responsible financial solutions and an expanding membership, GMB Credit Union remains a pillar of support for GMB members and their families, providing stability and confidence in their financial future.”