St Albans District CU lending hits £2m
14 Feb 17
St Albans District Credit Union is celebrating the milestone of lending £2 million to local people.
The credit union was founded in 2002 to encourage saving and to offer fair cost loans to the local community. It has grown steadily to now serve almost 2,000 members and to pass the landmark figure of £2 million of loans.
St Albans District Credit Union Chairman Colin Metcalfe said: “To reach £2 million of loans granted is a significant milestone in the development of the credit union and shows that there continues to be both a need and demand for the services that a credit union can offer to the local community.”
St Albans District Credit Union serves anyone who lives or works in Hertfordshire. In addition to its main office in the city’s Hatfield Road, the credit union also runs collection points in Harpenden, London Colney and Wheathampstead.
The credit union has an excellent record of working with local schools to promote saving and financial education through its “Treasure Chest” school savers scheme, and the credit union serves more than 500 junior savers.
The credit union was awarded £20,000 by the Lloyds Banking Group Credit Union Development Fund in 2015 to improve its IT and back office facilities.