The Co-op Credit Union Celebrates 25 Years of Success

Monday 29 January 2024

On Wednesday 24 January, The Co-op Credit Union gathered in the Co-op Group’s headquarters with supporters of the credit union and the co-operative movement.

The celebration was to mark the milestone achievement of The Co-op Credit Union having operated for 25 years. Many attended the celebration of the credit union’s anniversary and speeches were given by Rebecca Birkbeck, Director Community and Membership Participation, The Co-op Group, Rose Marley, CEO, Co-Operatives UK and The Co-op Credit Union Chair – David Fawell. The speakers all remarked on the credit union’s vital role in supporting the financial wellbeing of members for the past quarter century.

In the last 25 years The Co-op Credit Union has served over 28,000 people who have saved over £75 million. In the same time period, the credit union has lent over £50 million to its members. The credit union has calculated that in the last four years it has saved members more than £1.3 million in interest on their borrowing compared to alternative higher-cost credit suppliers.

“We’re delighted to have reached this important milestone in our history.” Said Matt Bland, CEO, The Co-op Credit Union. Matt continued: “It’s an opportunity to say thank you to all our members and the very many supporters, partners, volunteers, board members and staff who have helped support us over the last 25 years. We’re proud of our legacy and the impact we’ve had – and continue to have – on the lives of our members, often the most vulnerable and precarious in society, and we look forward to welcoming many more new members and partners on board in the years to come”

To mark the milestone, the credit union has launched a new regular saving product – the Silver Saver – which will pay 5% annual interest on deposits of up to £250 per month between February and September. Full details will be added here upon the product’s launch.