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Your Local Credit Union Needs You

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What are Credit Unions?
Credit Unions are community savings and loans cooperatives. They offer members the chance to save regularly and to access great value, low interest loans linked to the value of their savings.

Who are Credit Unions For?
Credit unions are open to everyone who lives or work in the areas that they serve regardless of your level of personal household income. If you want to benefit from saving on a regular basis and being able to borrow money at a low interest rate then join your local credit union today.

What are the Community Benefits of Credit Unions?
Credit Unions are financial cooperatives owned and controlled by their members and are run by and for local people. Any financial surpluses from a credit union go towards developing the credit union and / or are returned to local members through a dividend. The only shareholders are therefore the local members who use its services. Credit unions are therefore local, ethical and of benefit to local residents and the wider local community that the money is retained within.

Credit unions offer an alternative to getting into financial difficulties from taking out high Annual Percentage Rate interest loans from legal doorstep lenders, payday advance services or illegal loan sharks.

Where are Credit Unions in Cumbria?
There are currently seven community based credit unions in Cumbria.  

How can You Help your Local Credit Union?
Become a Member – Use your local credit union to save and borrow. This provides benefits to you and helps to strengthen your local credit union.

Become a Volunteer - you can help your local credit union by volunteering to become involved in the delivery or management of services. Full training and ongoing support will be provided. Volunteers are needed to staff collection points or become involved in managing and running the credit union. Volunteers with financial qualifications, knowledge, skills or experience are particularly welcome. Volunteers with other skills, enthusiasm and commitment to credit unions are also welcome. Credit Unions need local people like you to become involved and help them to provide a quality service that knows and meets the needs of local communities. 

Setting Up Credit Unions in Other Areas of the County
There is currently no credit union coverage in Eden, South Lakeland or most of Barrow.

Groups of community volunteers are currently working in Eden, South Lakeland and Barrow to establish credit unions in these areas. We are currently seeking volunteers with any of the following skills and attributes for any of the three areas:-

  • Accountancy and bookkeeping
  • Business Planning
  • Committee and group work skills
  • Funding Applications and Fundraising
  • Information and Communication Technology
  • Management
  • Marketing and Promotions
  • Personnel Issues
  • Policies and Procedures
  • Research and Survey Work

However any volunteer with commitment and enthusiasm is very welcome.

David Stephens, Programme Manager
01539 713436
david.stephens@cumbriacc.gov.uk

Gordon Henry, Cumbria Credit Unions Development Coordinator.
(01900) 607532
07515 061964
gordon.henry@harvesthousing.org.uk