Pennine Community Credit Union praised at 37th Annual General Meeting by Burnley civic leaders for the new branch on St James’s Street.
Account holders recently heard speeches at the AGM, held at Turf Moor, by Burnley Council Leader Mark Townsend and Julie Cooper MP. Both were pleased that the credit union had made a strong commitment to the area by purchasing and renovating the branch on St James’s Street, where residents can discuss their saving or borrowing needs with members of staff.
Julie Cooper MP, complimented PCCU on opening the new Burnley branch
Congratulations on the new office, what a great advertisement! It is fantastic to have a high profile town centre office of the calibre PCCU have achieved. PCCU’s ethical savings and affordable loans are admiral principles
Mark Townsend informed the 90 account holders in attendance that he had visited the new branch on numerous occasions and had been impressed with standard of renovation and ethos of the organisation
Welcome to St James’s Street, you should be proud of your building. The facilities offered by PCCU are very impressive, you continue to go from strength to strength. PCCU’s values aren’t just written down, they are being lived every single day!
PCCU President Gerard Spain presented a good picture of the credit union’s performance over the financial year. Assets rose 9% to £6.8m, with healthy loan growth for the third successive year by 17%. On behalf of the Board of Directors, Mr Spain thanked CEO Kathryn Fogg for 20 years of service and detailed the phenomenal success under her leadership
20 years ago we were based at St George’s Church in Nelson, the savings balance was under £600k and the loan book was under £500k. Fast forward 20 years – PCCU own two branches, hold collective savings of £5.6m and the loan book currently stand at £3.4m.
The credit union decided a dividend rate of 0.75% on savings, this was pointed out to be well above the UK average instant access savings rate of 0.25%.
PCCU selected The Rosemere Cancer Foundation for our annual £500 charitable donation. Julie Hesmondhalgh, who represented the Foundation, explained how the money donated would be used to help local families by funding cutting edge equipment, vital research and other cancer services that are beyond limited NHS resources. It does this to bring world class treatment to cancer patients from throughout Lancashire and South Cumbria being treated at Rosemere Cancer Centre, the region’s specialist cancer treatment centre at the Royal Preston Hospital, and at another eight local hospital cancer units across the two counties, including those at Burnley General and the Royal Blackburn Teaching Hospitals.