
International Credit Union Day, Thursday October 17th 2024, is a chance to join credit union and financial cooperative members around the globe in celebrating 76 years of International Credit Union Day.
Credit unions are not-for-profit financial cooperatives that pool members’ savings to use as loans, and sometimes mortgages. They have a “people-first” philosophy that impels them to constantly improve their communities and the lives of their members. It’s a local service that feeds a worldwide network that reaches more than 403 million members across the globe. Read our blog to find out more.
At GMCVO, we are delivering the Enterprising Communities Fund in a unique partnership with credit unions who have now been able to lend over £250,000 built up by local savers in the last year to local, social businesses. Credit unions are all about People Helping People. By funding social investment, they are supporting social enterprises and trading charities in Greater Manchester to increase their impact by creating jobs, supporting wellbeing, improving community spaces and services, and more.
We have recently welcomed two more Credit Unions to be part of the Enterprising Communities Fund: Metro Moneywise Credit Union and Co-op Credit Union. This means we have even more scope to invest in local areas and help build local wealth.
In Greater Manchester, credit unions have been working with Mayor Andy Burnham to introduce a scheme where residents will be able to buy an annual bus pass through the credit union to make savings on travel costs. This is just one example of how credit unions are working for the people, enabling residents to save money and build local wealth.
Greater Manchester credit unions are also working with local employers to encourage them to support their employees to sign up to save regularly through their payroll, working with the team from the Greater Manchester Good Employment Charter.
The Soundpound Group brings together leaders from the 14 Greater Manchester credit unions to work together to meet the financial needs of the city-region. Visit their website to find out more.