Originally founded in 2001, Eastern Savings & Loans serves over 3,000 members around Suffolk, Norfolk and Cambridgeshire.
The experience of the past two decades has formed quite a character of the Credit Union, Building strong long-term customer relationships. Three of the regions credit unions announce merger discussions in 2013 with the aim of building a bigger, stronger credit union delivering better services to members. These Credit Unions were Ipswich and Suffolk, Rainbow Savers Anglia and Norfolk to bring together the strengths of all three credit unions.
Ipswich and SuffolkISCU is based in Ipswich but serves members across Suffolk with volunteer information points in Newmarket, Mildenhall, Haverhill, Bury St Edmunds, Woodbridge and Felixstowe. ISCU currently has 5,500 members.
Rainbow SaverRainbow Saver Anglia has shops in Lowestoft and Peterborough, with volunteer run points in Wisbech, Halesworth, Cambridge, Thetford and Great Yarmouth. It currently has 4,500 members and offers a prepaid VISA Debit card alongside its savings accounts and loans.
Norfolk Credit Union is based in Long Stratton and has a shop in Norwich, with volunteer run points in Aylsham, Attleborough, Cromer, Drayton & Taverham Area, Dereham, Diss, Downham Market, Fakenham, Harleston, Kings Lynn, Stalham, Thetford, Watton. NCU currently has 3,000 members.
The combined credit union would have an active membership of 13,000. In January 2014 A Transfer of engagements of Norfolk Credit Union was registered as having been transferred to ISCU. At the same time ISCU has been advised a rule change to extend the common bond to cover Norfolk was also been registered.
Eastern Savings and Loans welcomed Lisa Nandy MP, shadow minister for the Third Sector to the credit union. The Credit Union opens a new location on the high street in Ipswich Town Centre June 2014 and Barclays Bank with Eastern Savings and Loans Credit Union announce their joint community initiative. Barclays will be hosting Eastern Savings and Loans in the Red Lion Street Branch of Barclays for four afternoons per week from the 30th June 2014.
Members of Cambridge City Credit Union are to become members of Eastern Savings and Loans. It is anticipated CCCU member accounts will be transferred to the ESLCU system over the second weekend in February 2015 and these members will then be able to register for online access to their accounts.
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