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Greater Manchester Consortium of credit unions recognised for their Social Value


15 Jun 18

This week the Greater Manchester Consortium of credit unions, ‘SoundPound’ celebrated being awarded a Social Value Award from the Greater Manchester Chamber of Commerce.

The Social Value Awards celebrate the organisations that facilitate an outstanding contribution to the skills and learning in businesses across Greater Manchester.

The awards recognise and commend:

•             Greater Manchester businesses across all sectors who invest in the training and development of their staff.

•             Schools that support young people into the world of work or apprenticeships.

•             Outstanding apprentices, advanced / higher apprentices and other learners who have honed their skills and excelled as a result of the training and development they have received.

•             Learning providers that engage with, understand and meet the needs of businesses in the region.

The SoundPound network have been recognised for a social value award for their great initiative join forces to take on national lenders and show people there is an ethical and local alternative that could save borrowers thousands of pounds. 

SoundPound launched a campaign in the last year ‘Get Local’ which promoted credit unions as a fair and ethical alternative to high cost lenders. The campaign has being supported by Mayor of Greater Manchester – Andy Burnham - who is a member of his local credit union. He said: “Our community credit unions are the local, ethical alternative to the high-interest payday loan companies and loan sharks.

“I hope even more people in Greater Manchester will sign up to their local credit union and show that there is a real local, alternative when it comes to saving and borrowing.”

More than 50,000 people in Greater Manchester are already members of one of the SoundPound partners, currently borrowing a total value of £14 million in loans. Members currently hold savings of £24 million with SoundPound credit unions.

Speaking of their award this week members of the SoundPound network were delighted to have their Social Value recognised and look forward to continuing work to help the community of Greater Manchester.

Chief Executive of South Manchester Credit Union, Sheenagh Young says: “Credit unions are good news for Greater Manchester and I believe that all of the community credit unions coming together now as a consortium is even better news. Our social impact is even stronger – we are all working together to widen access to our financial services offer for everyone in our communities.”

Chief Executive of Stockport Credit Union, Helen Wilman says: “Everyone at Stockport Credit Union works hard to achieve a better financial future for all of our members by promoting responsible finance and encouraging savings. We are pleased to be recognised for our social value which is at the heart of all what we do.”

Chief Executive of Salford Credit Union, Sheila Murtagh says: “Salford Credit Union is proud to be part of the GM Consortium of credit unions and to have our Social Value recognised – we all share the common credit union objectives which means we try to make what we do and the way we do business benefit the wider community, bringing direct financial and wellbeing benefits to our area. Salford Credit Union has also pledged to support the 10% better goals of the Salford Social Value Alliance – by serving more people and doing our bit to reduce poverty in the city.”

Members of the Greater Manchester Soundpound are Cashbox Credit Union, Hoot Credit Union, Manchester Credit Union, Oldham Credit Union, Salford Credit Union, Stockport Credit Union, South Manchester Credit Union, and Unify Credit Union.





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