EdenSave was authorised to operate as a credit union by the PRA in July 2013. They opened their doors for business in October 2013.
The credit union started out as EdenSave Credit Union Limited covering Eden District. October 1st 2016 marks the third birthday and the past three years have proved the need for a Credit Union in Eden. Over 500 people signed up as members. Many members have applied for loans and over £200,000 has been lent in the first three years. EdenSave is very grateful for support from local authorities, housing associations and local grant funders.
Housing association tenants receive a £5 boost to their savings when they open an account. Local authority and grant funders have enabled the Credit Union to purchase much needed operating software and have also met a portion of the running costs of the Credit Union.
The South Lakeland Study Group was launched at a public meeting in 2010. All members of the Study Group were volunteers and their remit was to demonstrate the level of need, support and demand for a credit union within South Lakeland and to make the business case for setting one up. In August 2015, after many frustrating months of consultation, they were given approval by the PRA to operate as a fully-fledged credit union.
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