Wimbledon credit union spent a number of years as a study group from 1961. Led by Ted Sammons it was the first to be registered in England as a Credit Union under “The Companies Act” on the 1st of April 1964. The common bond was with the boundary of the Sacred Heart a Jesuit parish in Wimbledon and membership was open to anyone living or working in that parish area. The study group agreed to followed the model established in Nova Scotia Canada after extensive research around the world on Credit Unions.
How it came about
In 1961 Ted Sammons had formed a group to study the principles and history of Credit Unions. they obtained information from the headquarters of Credit Unions North America, Wisconsin and Carmel Credit Union, Colorado the Extension Dept., St. Francis Xavier University, Nova Scotia, Rhodesia (Zimbabwe), Maryland’s Credit Union, Sydney, Australia, Japan, South Africa, the Republic of Ireland and the Philippines.
Discussions were held in Teds house with representatives of Rhodesia, Dublin and Sidney. At the time they had no knowledge of any Credit Union in Great Britain and worked on that assumption.
All the information received was thoroughly discussed over a three-year period by the credit union group. It was decided to form Wimbledon credit union on the first credit union formed in Nova Scotia, based on a fishing village community.
As a result of registration and the publicity that accompanied it, Frank Villiers, who was a representative of a West Indian credit union in Hornsey was approached by Ted Sammons. At a meeting a representative from each group explained the aims and methods of operating of their respective groups. It was agreed to appoint a small committee to draw up a draft for a united National Body.
This small committee met at Claver House Victoria, and all agreed it would be more economical to have one national body. Mr Paddy Bailey had already been present at a Wimbledon Credit Union meeting held in one of the member’s homes, and he had commented very favourably.
Unfortunately, there were serious differences in administration and registration and Wimbledon went on to form the National Federation of Credit Unions. In February1967, along with two other new credit unions Highgate in London and one in Hove they formed “The National Federation of Credit Unions”.
After forty-one years’ serving their community Wimbledon Credit Union was wound up in 2005.
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