Kingdom Community Bank Celebrates 20th Anniversary

Friday 12 July 2024

Kingdom Community Bank celebrated its 20^th anniversary on Monday 24 June 2024 with a series of events, aimed at celebrating with its members and raising the profile of the credit union.

Established in Glenrothes in 2004 to offer local people affordable and ethical banking services, the credit union has undergone a huge transformation over the past two decades, including opening new branches and pivoting to provide online services in response to the pandemic.

Kingdom Community Bank is now Fife’s largest credit union with over 7,000 members and growing.

Commenting on the landmark milestone, ABCUL CEO, Robert Kelly said: “I want to congratulate all staff, board members, and volunteers at Kingdom Community Bank on achieving a landmark of 20 years serving so many people, families, and households across Fife.”

At an event for Fife councillors and key partners on Tuesday 25 June, Kingdom’s CEO Sofia Dogan was presented with a Stop Loan Sharks Scotland Charter. Presented by John Pollock from Stop Illegal Money Lending Unit, the charter launched in December 2020 and organisations that sign up to it pledge to work with them to increase their reach within communities and to increase the confidence of residents to enable them to report illegal loan shark activity safely.

Janice Gourlay was the first-ever member – Member #1 – and is now on the Board of Directors after serving as chairperson for several years. Heavily involved since the days of the working group, Janice recalled there were 17 founding members.

Janice said: “I can’t believe how much it’s transformed – from a small credit union to the multi-million pound, professionally managed financial institution it is today. It has far exceeded our expectations.”

Feedback from its 7,000 members indicates they value the accessible services and community focus of the bank.

Sofia Dogan, CEO of Kingdom Community Bank said: “Our members often comment about how easy it is to sign up and access the services we provide – whether it’s online or in branch. We have three branches across Fife which gives a friendly and personal touch.

“Our branches are in three locations in Fife – Methilhill, Glenrothes and Dunfermline – which are easily accessed by public transport. The branches include a Little Free Library where members of the public can come in and pick up a book for free. In our Dunfermline branch, which is located in the Community Support Hub in Kingsgate Centre, we have developed partnerships with local charities and public sector organisations to deliver a holistic service through our branch.”

“We are dedicated to offering the people of Fife a local, ethical option. We want more people in Fife to have the opportunity to join our credit union and have a positive, long-term impact on their finances.”

Tom Arthur MSP and Cabinet Minister for Employment and Investment said: “I am delighted to give my warmest congratulations to Kingdom Community Bank on its 20th anniversary. The Scottish Government is committed to supporting greater financial inclusion, including through championing our credit union sector and community lenders.

“Kingdom is a fantastic Scottish business success story and has had an incredible journey over the last 20 years. From its beginnings in Glenrothes back in 2004, it is now Fife’s largest credit union with more than 8,000 members and three branches across Glenrothes, Leven and, as of this year, Dunfermline.

“Kingdom is a real Living Wage employer that exists for, and consistently gives back to, the local community. I continue to be impressed by its dedication to improving financial inclusion across Fife.”

Robert Kelly added: “Kingdom has an exceptionally strong track record of building financial resilience and providing the ethical products and services that makes the most difference to people’s lives – everyone involved should be beaming with pride in terms of the impact being made.

“ABCUL is proud to serve Kingdom Community Bank as a member credit union and we look forward to supporting the development agenda in the months and years to come.”