The Credit Union was originally established in 1999 as Croydon Savers Credit Union Ltd (Croydon Employees Credit Union); a credit union for Croydon Council staff
In 1998 there were just 120 members and were trading as Crocus Valley Savers. This was registered as a friendly society, and in 1999 they became a Credit Union. It was named Crocus Valley because that is what “Croydon” originally meant when the area was named.
In 2004 the credit union expanded membership, to anyone living or working in Croydon. In 2010 the name changed to Croydon Merton & Sutton Credit Union to reflect the further expansion into Merton and Sutton. In February 2016 the name to CroydonPlus was tomark the beginning of a sustained process of modernisation for current and new members, as the credit union responds to the opportunities and challenges of financial services in the digital age.
The office team based in Croydon look after daily transactions and operations. The team includes paid staff and volunteers, with both providing support to customers at additional locations in Merton and Sutton. Andrew Wakefield, Chair of CroydonPlus passed away on Wednesday 26 October 2016. In recent years Andrew played a key role in leading the credit union with a mix of leadership, guidance, creativity and ambition. He is remembered in the roll of honour of credit union activist.
In December 2017, the credit union achieved membership of 5000. While the name is CroydonPlus, the credit union continues to trade as Croydon Merton & Sutton Credit Union. In June 2017 A NEW INCENTIVE has been launched across Croydon, Merton, and Sutton as part of a scheme to encourage residents to start saving and warn them of the dangers of borrowing from loan sharks. The England Illegal Money Lending Team (IMLT) worked in partnership with the credit union.
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