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Unity Trust Bank awards £70,000 to Credit Unions


31 Aug 18

Credit unions across GB have been awarded funding from Unity Trust Bank  to improve their services.

The Credit Union Development Fund (CUDF) is a deposit account where Unity Trust Bank pays the equivalent of 0.125% of the aggregated CUDF Account balances into a Development Fund. This is used to make grants to further the Credit Union movement in the UK. As the commercial bank whose purpose is to help create a better society, Unity Trust Bank is committed to support the credit union sector in its pursuit to tackle financial exclusion and poverty. The bank therefore reviewed how to best support these efforts and offered this grant funding to help support the valuable role credit unions play in providing fair financial services and products to a wide range of customers otherwise excluded from mainstream finance.

Unity Trust Bank welcomed applicants undergoing digital or technology projects such as (but not limited to), the development of a website, social media, online banking or mobile apps. An unprecedented number of submissions were received which were truly inspiring. The decision-making process was a difficult one, with over 40 applications for the £70,000 available.

Speaking about the delight to receive funding from Unity Trust Bank, Isabelle Osbourn, Chief Executive of Coventry & District Credit Union said: “The improvement this grant will make to our digital presence is immense it will enable us to work within a variety of communities across Coventry.  We will be able to educate, profile and deliver our service to a wide and diverse audience, everyone can benefit from credit union membership and thanks to the generosity of Unity Trust Bank we now have the opportunity to make this a reality.

Brian Ridsdale, Director of Solent Credit Union said: “There is always a warm welcome for our existing members and new customers, whether they visit us in person or contact us by phone.  This grant will allow us to improve on the service we give, and to appeal to a younger constituency.  Also, by developing an attractive and easy-to-use front-end, we shall be able to offer our services 24 hours a day and support people who can’t get in to our Southampton office."

Karen O’Reilly, Manager of LASER Credit Union said: “The funding is for a mobile app and new platform that will further streamline our processes, particularly lending.  I'm absolutely over the moon that we have been awarded this grant which means so much to LASER.  It's great to be championing a project that will enhance the user experience for our members with the introduction of the mobile app. We can't wait to be up and running with the app and new platform that will be great for LASER, its staff and members".

Other grant winners included Eden & South Lakeland Credit Union, Harlowsave Credit Union and Norwich Credit Union

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