The NHS Credit Union has just celebrated its 15th birthday in fine style.
The organisation’s Annual General Meeting heard that membership, loans and savings were all at record levels. And members are to share in a dividend payment of over £50,000, or 0.5% applied to savings accounts.
Addressing the AGM, Chairman Hugh Sweeney said: “The start of this financial year saw the NHS Credit Union pledge to overhaul our loan policy and invest in improved online services for members. These targets have both been achieved and, despite the challenging economic climate, we have also managed to return an operating profit of more than £221,000.
“We are delighted that more than 20% of that annual operating profit is to be returned to members in the form of an annual dividend, while we continue to invest in product and service enhancements and underpin our capital/reserves position.”
NHS Forth Valley Employee Director Tom Hart added: “These results are excellent news. The NHS Credit Union is a great way of managing your money and shows how health service employees can benefit from financial support and advice. Remember, it costs significantly less to borrow money from a credit union than taking out a payday loan.”
Since it first began operating in 1998, membership of the NHS Credit Union has grown to more than 10,000.
For more information on how to join the NHS credit union visit their new website <a href=”http://www.nhscreditunion.com” target=”_blank”>www.nhscreditunion.com</a>