Pennine gives out 30000th loan
01 Dec 17
Established in 1982, PCCU has taken its total lending to the community to £44m, there has been an increase in people borrowing for a whole range of reasons as people look for an alternative to high interest lenders. In this financial year so far PCCU, their loan book has gone over £3million. After, a 12% growth in the loan book last year, PCCU have achieved 9% loan book growth in the last 2 months alone.
This year, savings were up 15% with collective savings now totalling more than £5.7m. And over the last 12 months account holders have saved over £7m. The popular Christmas Savings Account, where people save throughout the year but can only access the account during the festive period, has also seen an increase from £139,000 to £160,000.
Kathryn Fogg, Chief Executive of PCCU, said: “It is pleasing that the local community see PCCU as a safe place to save their money. The continued success of the Christmas Saving Account highlights the important role we play for families in the most expensive part of the year.”
The great progress is continuing into next year as PCCU have recently opened a new branch within SPE Furnishings which sells new branded furniture, paint and electricals in Burnley. The profit made in store is to operate the local food bank and street soccer programme. Employees of PCCU are in store to offer affordable finance on products, providing an ethical alternative to the high interest pay weekly stores.