Hillingdon Credit Union establishes partnership with Council to provide £1m interest free loans

Monday 15 January 2024

Following a detailed tender process, Hillingdon Credit Union (HCU) is delighted to announce a strategic partnership with Brent Council, for the provision of up to £1m in interest free loans to residents of Brent, who have been impacted by Covid-19.

Hillingdon Credit Union’s, President Neil Jones: “This innovative scheme will help reduce financial stress and homelessness for the most vulnerable residents within Brent, who have been impacted by the pandemic over the past 6 months”

HCU’s Business Manager, Steve Allen comments “Our team has work hard to get this scheme operational in a short period of time, with over £150,000 of applications and this, together with the foresight of Brent Council, will ensure there is a meaningful financial improvement for many Brent residents – this is exactly the area we believe credit unions can add greatest value”

Formed in 1991, originally just serving the employees of Hillingdon Council the Credit Union has extended services and serves just under 4,000 members following a merger with Credit Union for Brent & Ealing.