Serve and Protect CU Start the New Financial Year in Record-Breaking Style

Thursday 25 January 2024

Serve and Protect CU have delivered a record-breaking amount of affordable credit for two months in a row

October and November have both been record lending months for Serve and Protect CU. In October, the lending total was over £3.3 million, which was exceeded in November with a lending total of over £3.9 million. These achievements show the credit union’s commitment to providing affordable credit to its members.

This tops off a fantastic calendar year, where Serve and Protect CU have not only provided £34 million in loans to its members, but they have also increased savings by 17.5%, from £67 million to £78.8 million. These record-breaking figures are a promising sign for the rest of the new financial year as the credit union continues to improve the financial resilience of its members.

Reaching these milestones have only helped to re-enforce the values of the organisation, which are centred around improving financial resilience of those who serve and protect the nation. This is especially important, in the wake of the COVID-19 pandemic which has shaken the UK economy and affected its members either directly or indirectly.

Jim Page, Lending & Credit Risk Manager at Serve and Protect CU said: “It is a great pleasure to see the growth that we have achieved this calendar year. The efficiency of the lending team has helped to pave a bright future for the credit union, while also breaking records along the way. Helping our members quickly is at the heart of what we do, and I am proud of the team for consistently meeting this obligation.”

Paul Norgrove, CEO at Serve and Protect CU said: “We continue to improve the financial resilience of those who serve and protect the nation, which is ultimately what we stand for. I am proud of the credit union, as we have continued to grow, despite the challenges we have faced in the wake of the COVID-19 pandemic. Overall, we are honoured to serve a wide community, and always have their interests at heart in everything we do as an organisation.”

The credit union is proud to announce that it also welcomed an additional 600 members in November 2021. The principle of strength in numbers is key to the success of Serve and Protect CU, and it is proud to have an opportunity to help forge a strong relationship with all new members, ultimately serving them through its service careers and beyond.