Members of Pennine Community Credit Union Receive 2% Dividend Return

Friday 26 January 2024

Pennine Community Credit Union announced at its 41st AGM a 2% dividend – accounting to £653,000 – will be returned to account holders and also £20,000 in charitable donations to be made which include warm spots and wellness hubs.

Held at Burnley Football Club’s 1882 lounge, PCCU members voted in favour of providing the charitable donations to much-needed organisations providing help and support to the community in many ways.

PCCU President Gerard Spain announced that savers would benefit on a 2% dividend on savings due to another year of incredible growth, and borrowers would be rewarded with a loan interest rebate of 15%.

“We can’t stand still, we’ve got to continue to develop, continue to grow and prosper,” says Gerard. “We need to ensure during these difficult economic times we can deliver our services to more people who can benefit from the services we provide. We will be giving our account holders back £653,000 in dividends and loan interest rebate.  I challenge any bank to be able to give that back to any of their savers or borrowers.”

Those in attendance heard how PCCU have made ten donations totalling £10,000 to many local charities including SafeNet, Colne Youth Action group, Rossendale Responsible Animal Rescue, Derian House Children’s Hospice, Millbank Wellbeing Centre, New Neighbours Together, Fellrunner, Ignite Penrith, and Autism Support Allerdale & Copeland.

Lisa Durkin from SafeNet explained at the AGM what the £1000 donation means to them and how it will help domestic abuse survivors who need their help.

“Your donation is really valuable to us and will enable us to do some really great recovery work with families to help them move on and stay safe once they have moved on from their abusive relationship”.

Whilst Sarah Cockburn-Price from Colne Youth Action Group highlighted how the donation will be used by the charity.

“Our work is helping we are making a difference. The anti-social levels in Colne have dropped. These types of donations allow us to keep offering all sorts of activities to the young people of Colne.”