In compliance with the credit union ACT of 1979 the credit union registered in May 1980.
An association credit union meaning membership is for members of Greenlight Centre.
The Green Light centre offers a wide range of educational, social and leisure activities, including the credit union.
The operations and management of the credit union was carried out by volunteers and continue to provide the “core” services of Savings and Loans to members.
The Tower Hamlets Fairness Commission recommended that the financial services sector should support the development of the credit union sector.
In the hope it could provide a viable alternative to payday loans and competitive banking services for people on low incomes with credit unions in the borough being part of that initiative.
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