Workers at Bradford’s Ciba Speciality Chemicals registered this credit union on the 16th of April 1999.
Chairman Charlie Boyle said the Ciba Water Treatments Credit Union Ltd would offer the loans at a fixed interest rate of one per cent a month in line with Whitehall rules. They had been saving together and when they got enough assets to cover the running costs of the office and the registration fees they were allowed to go ahead with granting loans. Ciba has given the Union an office and equipment to run the scheme within the site as well as time for the staff to run it.
The Credit Union is one of only a handful in the Bradford area which are employee based and looking at it as being a positive employee benefit. Ciba’s head of human resources – and a member himself – said: “It’s very much something that employees and management have co-operated on very effectively.”
Want to find out more?
Get in touch with the Ciba Credit Union team:
Telephone – 01274417123
Email – rachel.bean.cocking@cibasc.com
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British Credit Union Historical Society 