Supporting Credit Unions
As part of Lloyds Banking Group’s purpose of Helping Britain Prosper, the Group has made a series of commitments towards supporting the growth and profile of the credit union sector in the UK.
We have launched a new fund which will help Credit Unions, with strong, sustainable proposals for growth, improve their capital base. It will be delivered in partnership with the Credit Union Foundation and the Association of British Credit Unions (ABCUL) and is a £4 million commitment over four years from 2014-2017. For more information or to apply for an award visit the Credit Union Foundation website.
Improving the public’s understanding of Credit Union services is vitally important to help communities thrive and having successfully piloted a customer signposting relationship between Lloyds Bank and Halifax branches in Leeds and the Leeds City Credit Union, we are rolling this idea out to other parts of the UK.
Where we can strengthen local relationships even further, we want to do so by increasing the mentoring and volunteering support that many Lloyds Banking Group employees can offer Credit Unions. Our colleagues have expertise that could benefit the credit unions in terms of systems, processes, policies or working with their customers. We know from our existing colleague volunteering programme activity that access to these skills can often be even more helpful than direct financial support and we aim to partner with up to 20 Credit Unions by the end of 2014.
And finally, we are collaborating with others to test new approaches to supporting the sector, including financing the pilot stage of the Archbishop of Canterbury’s Church Credit Champions Network.