Building better futures: Social Impact Report 2024
Building better futures: Our Social Impact Report 2024
We’re excited to share the release of our 2024 Social Impact Report, showcasing another year of meaningful progress in our mission to deliver fair and inclusive finance and build financial resilience across South and West England.
The highlights
In 2024, we delivered a record-breaking £11 million in affordable loans, supporting 7,211 borrowers and helping thousands avoid high-cost credit. With 1,997 new members joining our community, GWCU now proudly serves over 20,000 members, each one part of a growing movement for fairer finance.
Finance that reflects real life
Our members are at the heart of everything we do. They come from all walks of life but many share one thing in common: they’re navigating real financial pressures. They’re workers, carers, and parents doing their best to stay afloat. And we’re here to back them.
Our borrowers reflect the communities we’re here to serve:
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87% have household incomes under £40,000
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77% are women
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44% are single parents—nearly double the UK average
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60% have less than £1,000 in savings
These insights shape everything we do from every decision we make and product we create, we’re always evolving to suit our member’s needs. Our lending isn’t about dependency, it’s about building resilience and helping members stay afloat, avoid harmful debt, and make life-changing financial decisions with confidence.
Growing financial resilience
We’re seeing a powerful shift in financial resilience with more borrowers than ever becoming savers. In 2024, 4,687 members saved a collective £8.9 million, with 37% of savers having previously held a loan with us. This transition from borrowing to saving is a clear sign of growing financial resilience and highlights the impact of the support our members receive.
Community finance in action
Our impact goes beyond numbers, in 2024, we:
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Provided interest-free loans to 612 homeless families
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Supported 137 families through the Refugee Resettlement Scheme
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Partnered with councils, charities, and employers to reach those who need us most
From Bristol to Dorset, Somerset to Wiltshire, our reach is growing and so is our impact.
As Denis Lindsay, Chair of the Board, puts it:
“We exist to prove that fair finance is not out of reach for those who need it most. For many of our members, traditional banks aren’t an option and that’s where we step in. Our borrowers are not just numbers on a balance sheet; they are parents, carers, and workers navigating real pressures. Behind every loan stands a saver who believes in our mission. That partnership is powerful. It’s what makes credit unions different: community finance in action, changing lives every day”
We’re proud of what we’ve achieved in 2024, and we’re even more excited about what’s ahead. Because when we work together, we’re all better off.
Read the full 2024 Social Impact Report below.
Building stronger communities, together
Our Social Impact Report highlights the difference we’ve made across the South and West counties and how we’re continuing to build financial wellbeing, inclusion, and resilience in our communities, together.