Stockport Credit Union Achieves Record-breaking Landmark

Tuesday 23 January 2024

For the first time within a financial year, Stockport Credit Union (SCU) has provided 3000 loans to members. So far this year, its loan numbers are up over 25% compared to the same period last year and have already beaten last year’s record-setting year.

“We were delighted to reach the landmark achievement of issuing our 3000th loan on 18th August, six weeks before the end of our financial year,” says Chief Executive of Stockport Credit Union, Jonathan Moore. “Stockport’s previous record stood at 2780 for the whole of the last financial year but we’ve worked hard over the last couple of years to widen our engagement with the communities we serve whilst also strengthening our marketing activities and our processing capacities. 

“This landmark achievement should put us on target to provide circa 3400 loans by the end of the year which will be a near 25% increase over last year.”

At its AGM this year, to discuss the 2019-2020 financial year, SCU confirmed more people than ever before have turned to its services for financial support as the devastating effects of the Coronavirus pandemic began to bite. A record 1,108 new members joined, up 44% on the previous financial year.

Jonathan added: “We are thrilled that the work we are doing is leading to SCU being able to help more people in our borough to live a little more easily, and to benefit from the unique package of products and services that come with being a member of a credit union”