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London Plus Credit Union celebrates its 10 year anniversary


08 Feb 19

London Plus Credit Union celebrated its 10 year anniversary this week sharing data with members showing that the credit union has benefitted its community by £11m since its launch in November 2008.

The board of directors enlightened members at this year’s AGM that a total of £9m has been taken out in loans over the last ten years – £1.5m in the last year alone – to a total of more than 6000 members.  Members have built up savings of more than £2m giving them the security of knowing their money is in a safe place but also benefiting their community.

The Board thanked Chief Executive, Cheryl Gale and her team of dedicated staff who “continue to provide excellent and friendly services to our members” and also reassured members they would continue to improve services to members across six London Boroughs.

Reflecting on an ‘amazing ten years’ for London Plus, Cheryl is extremely proud the difference the credit union has made to members and the community they serve, especially launching the credit unions at the time of the financial crash. Cheryl said: “It has been an amazing ten years for London Plus Credit Union. In the face of challenging economic times and increasing regulation, we have remained strong and resilient. And in the past few years, we have seen the tremendous benefits of offering digital solutions while ensuring our services stay accessible to our members and partners.

“We’re proud of the difference we have made to our members and the communities we serve. Everyone at London Plus would like to thank our partners and stakeholders, all of whom have been key to our success. Most of all, thank you to our members, who have remained loyal and are the reason we exist. We are really excited about what the next ten years hold! Thank you for sharing this journey with us”.

The Board reassured members that they strive to improve the credit union’s excellent service to the community by extending a range of financial products making services more accessible. In the last year, London Plus launched a mobile phone app that allows members to manage accounts from a phone or tablet; a debit card to give easier access to spend and withdraw savings from. The Board also announced further improvements in the coming year which include a new way of applying for short term loans and a new way of getting a wide range of household goods through a credit union loan.

A special video celebrating the last ten year’s is available to watch on YouTube here

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