Lanarkshire Credit Union Turns 25

On the 10th of November 2016 Lanarkshire Credit Union celebrates its 25th year of service.

Lanarkshire Credit Union celebrates its 25th birthday on the 10th of November 2016 with events hosted on the day at their local offices and an awards night on the 11th of November to celebrate the people who helped make the Credit Union such a huge success.

Founded as Blantyre Credit Union Ltd. in November 1991 the Credit Union went on to serve 178 members who saved £10,452 and borrowed £8010 in its first financial year serving just the population of Blantyre. By the end of September 1994 membership had grown to 585, savings increased to £78000 and lending rose to £112000.

The Credit Union began its life in the Blantyre Community Centre, a temporary home while it established itself. A year later it moved into premises known as Safe Blantyre, again only temporary accommodation. Late 1992 the Credit Union applied for funding assistance to lease and refurbish a flat next door to their temporary office and in May 1994 moved in. By 1999 the Credit Union was growing fast and looking for larger premises, negotiations took place with South Lanarkshire Council for the purchase a vacant ex rent office. The Credit Union was successful and purchased the property where its head office remains until this date.

Blantyre Credit Union initially served those living in Blantyre but later increased its common bond to cover those living Bothwell and part of Uddingston as well in 2006, a year later it extended its status to those both living and working in those areas.

In 2009 Blantyre Credit Union rebranded, becoming Blantyre and South Lanarkshire Credit Union, this also saw the common bond change again, this time covering all those who worked or lived in South Lanarkshire. This year also saw a Merger between the Credit Union and Larkhall’s ML9 Credit Union providing another office and 450 more members. By this point the Credit Union had 5300 Adult Members and 1000 Junior savers with over £4,000,000 in savings and over £2,000,000 in loans.

Later in 2013 Blantyre & South Lanarkshire Credit Union merged with Rutherglen Credit Union bring on a further 3000 plus members. In 2014 the Credit Union changed its common bond again to cover those living and working both in South and North Lanarkshire.

At the start of 2016 the Credit Union decided to rebrand again, changing its name to better reflect the area that it served. The name Lanarkshire Credit Union was born and as of November 2016 the Credit Union serves 14,394 adult savers with over £14,040,000 in savings and over £6,245,000 in loans. The Credit Union also has one of the largest Junior Savers schemes in the whole of the UK serving 7822 junior savers who’ve saved over £767,000.

 

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