Great Western Credit Union is a finalist in the UK Social Enterprise Awards, recognising it as one of the country’s most innovative and impactful businesses.
Social enterprises are mission-led businesses that reinvest or donate at least half their profits for a social or environmental purpose. GWCU is here to help local people make the most of their money, by giving them access to affordable loans and competitive savings accounts. When local people place their savings with GWCU, funding for more community finance loans are made possible. GWCU is committed to servicing a defined area of the South West and community finance supports a circular economy, with money staying local.
These prestigious national awards are run by Social Enterprise UK to recognise sector-leading excellence and innovation across a diverse range of criteria, and GWCU is shortlisted in the ‘Social Investment Deal of the Year’ category for the success in their recent investment raise. Delivered via the Ethex investment platform, the offer raised a total of over £1.9m from over 300 investors and received UK wide support, demonstrating the growing need for its services during the cost-of-living crisis. The total value was also made possible thanks to Fair4All Finance, who matched investments pound-for-pound up to £1m.
James Berry, CEO at GWCU: “I’m delighted and proud that Great Western Credit Union has been shortlisted for this prestigious award with our partners Ethex and Fair4All Finance in recognition of our innovative approach to raising the capital that enables us to deliver more for our members. As a sector-first the investment raise was truly groundbreaking. With more community finance organisations now adopting this approach we can see the potential to extend access to credit to many hundreds of thousands more people across the country.”
There are an estimated 131,000 social enterprises in the UK, employing more than two million people and contributing £60bn to the national economy each year, while also tackling some of the biggest challenges facing people and planet.
Peter Holbrook CBE, chief executive of Social Enterprise UK, commented: “Our Awards are the ultimate showcase of social enterprise impact and excellence – so those who made the shortlist represent the future of business, and a beacon of hope in turbulent times.
“Despite economic challenges, these trailblazers are not only making profit but using it for the good of people and planet. Businesses big and small have a vital role to play in solving the problems we face as a society, and the social enterprises celebrated at our Awards give us all inspiration and motivation to do business better.”
Find out more about GWCU at https://greatwesterncu.org/, and find out more about the UK Social Enterprise Awards at www.socialenterprise.org.uk.
