Reflecting on our first 6 months operating in Cumbria
In our first 6 months post-merger with Affinity Credit Union and PCCU’s expansion in to Cumbria we are ecstatic to have welcomed 1,000 new account holders increasing our Cumbria membership by over 70%.
Both new and existing membership are now able to access a range of ethical saving and affordable loan products as well as added benefits such as no annual membership fee, free life insurance on savings and loans (subject to rules), dividend paid yearly and savings protected the FSCS.
During these first 6 months we have loaned our new Cumbria community over £1m in affordable loans. Saving individual’s and their families over £876,000 in interest compared to a well known high cost lender.
PCCU’s £500 Family Loan & Saving Scheme has been a largely popular product with our new membership. This loan product helps families access affordable finance and allows them to make repayments and saving deposits directly from their Child Benefit. This loan is particularly useful to help with the costs of a family holiday, school uniforms or just to smooth a bump in the road.
With savings levels maintaining £1.6m and a growth of 136% in loans PCCU feels positive about fulfilling our aim to create a financially stronger and more sustainable credit union for our combined membership.
We welcome the opportunity to continue growing as a credit union and having a positive impact on the communities we serve with the ethical financial services we provide.
If you are happy with the service you have received – tell your friends! #PeopleHelpingPeople