With financial crashes, economic meltdown and banking bailouts still fresh in the memory it’s good to know that alternatives to the big banks and finance companies are available. A safe place to save, loans at realistic rates, a dividend for members – and it’s right on your doorstep!
Members attending last week’s North Edinburgh Credit Union annual general meeting heard that the organisation has had a steady year and that, in a volatile financial world, the local credit union remains a safe haven for savers and borrowers.
Chairperson Betty McVay told the meeting: “This is our Credit Union’s 26th year of operation and we are still going, when many people said we wouldn’t last! I won’t deny that at times it has been a hard struggle but with some dedicated volunteers and loyal members we are still around. The business of the Credit Union has once again continued to grow from strength to strength and now has an increasing membership. With the current economic climate we continue to exercise caution and take steps, through our Credit Committee, to protect our members and their savings”.
The meeting adopted rule changes that will see North Edinburgh Credit Union fall into line with other credit unions across the country, including the introduction of corporate membership and expand membership criteria to those people working in North Edinburgh. Members also agreed to pay a 1% dividend on shares in the credit union.
If last year was about stability and consolidation, the year ahead promises to be a more dynamic one. North Edinburgh Credit Union has appointed a consultant to boost the organisation’s profile and seek out new opportunities to help the credit union to grow. Banks may come and banks may go, but North Edinburgh Credit Union goes on forever!
North Edinburgh Credit Union is based in Wardieburn Drive. Business hours are Tuesday and Thursday from 4 – 7pm. For further information on how the credit union could help you, telephone 466 5006.
