Record Year at Stockport Credit Union

Thursday 25 January 2024

As its year-end has passed, Stockport Credit Union (SCU) is delighted to announce a record-breaking year, after issuing its 3000th loan. In addition to this, SCU welcomed a record 1165 new members – an average of very nearly 100 new members every month over the year.

“This is important to us as it tells us that we are becoming more widely recognised and valued within our common bond,” says Jonathan Moore, CEO of SCU. “We are very conscious of the fact that every pound that our members save is a pound nearer to them having some financial resilience, and every pound our members save on loan interest is likely to be a pound put back into the local economy.

“Credit Unions are fantastic vehicles for keeping money within an economy and thereby supporting jobs and businesses. We’re proud of the impact we know we have within the borough, both at an individual level and at the level of supporting the economy of Stockport.”

SCU has ambitious plans to further increase its reach in the area it serves, and look forward to assisting even more people over the next year and demonstrating to them the benefits of being part of an organisation that puts its members first.

Looking ahead to the festive period, Jonathan added: “Every year we help many families to cover the cost of Christmas and given that it looks likely that Christmas will be less restricted this year, we anticipate higher demand than in 2020. As we did last year, we will be relaxing our rules on the dates for top-up loans to ensure that people can borrow before Christmas even if their next qualifying date would normally only be in the last part of December.”