Find out about our last AGM where we outlined our growth and our future plans.
We would like to say an enormous thank you to everyone who joined us at our AGM last Thursday. As our first in-person event in four years, it was great to gather with members, both physically and online, to discuss our recent performance and future plans.
Understandably, everyone has been affected by the cost of living crisis and as a local credit union, we have seen more people turn to our services.
In the past year, savings grew to a record £11.1m, whilst loans reached a total of £7.4m - expected to increase to over £8m in the current year. Other achievements included the transfer in of Stroud Valleys Credit Union, further enhancements to our digital platform, a new investment from Fair4All Finance and the strengthening of the in-house member support team, who look after members who aren’t able to keep to their original loan terms. As the cost-of-living crisis grew through the year we saw more people in this situation than ever before, and our support to protect their access to credit for the future has been highly valued.
We also introduced plans for our upcoming Bond Offer, to raise our optimal target of £400,000, which will allow us to make purpose-driven finance more accessible to thousands more people across the South West. The investment will help us to increase our membership, develop our Money@Work employer partnership scheme, enhance the digital platform and explore new ways of delivering a face-to-face service. We will be updating members closer to the time of launch but you can register your interest here.
If you were unable to attend last week's meeting, the recording of the meeting is available here.
We recognise that this last year has been a difficult time for members across our region, however, we believe that things are beginning to look more hopeful. By coming together, we can provide financial stability to those most at risk while helping each other, our communities and our local economies to thrive.
Thank you for being a Great Western Credit Union member.