Fallowfield Credit Union

Discussions began in 1992 after Fr Murphy of St Kentigern’s spoke to a number of parishioners about the setting up of a credit union for the parish. 

After some time over the year a committee was put together in 1993 and people were invited to join the study group. Training then began with the help of Manchester City Council. Pat Dillon Frank Duffy, Rob Galvin and a representative from Manchester City Council visited Clydebank credit union in Scotland to look and learn from their operations. 

The Credit Union was first registered in April 1994 and the first loans were granted in April that same year to a Mrs Mary Edge. 

The registered office of the credit union was at St Kentigerns social centre 36 Wilbraham Road, Fallowfield, Manchester. There has only been the one collection point and the credit union still operates a manual accounting system, with volunteers and no paid staff. There are 400 members to date and 90 junior members. In the first year total loans were about £2000 but over the 21 years in operation the credit union has lent out nearly £3 million. The Credit Union may consider merging with a larger credit union in the future and the subject remains on the agenda for discussion at board meetings. The credit union later in 2017 did a transfer of Engagements to South Manchester Credit Union.

News and Views HERE

Copyright British Credit Union Historical Society 2018 – All rights reserved

%d bloggers like this:
search previous next tag category expand menu location phone mail time cart zoom edit close