Compared to the rest of the UK, credit unions in England had a relatively slow start. The first English credit unions were established in Wimbledon and Hornsey in 1964 by West Indian immigrants who brought the idea from their homeland.
While this was a similar time as the first credit unions in Scotland, started by Irish immigrants, the idea didn’t gain momentum in England until 1979 – when the Credit Union Act was passed.
Since then the credit union philosophy of self-help has proven very popular. In the UK, over a million people have recognised the value of credit unions, with total savings of well over £100 million. There are thousands employed in the sector and many more thousands involved in the movement as volunteers.
A 2016 report by Co-operatives UK recognises the significant role the credit union movement has played in the growth of the wider co-operative sector. British credit union membership has doubled over the last decade to more than 1.2 million, while the sector’s assets have trebled to more than £1.3 billion.
Over the years, we have collected various video content covering the history of English Credit Unions.
Former Credit Union Clips HERE
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British Credit Union Historical Society 