The directors of Swan Credit Union visited the House of Commons on the 8th of June to celebrate winning funding to develop the organisation. The event was hosted by Jeremy Quin MP, a former Swan board member and the current chair of the All-Party Parliamentary Group on Credit Unions.
The grant funds were provided by Lloyds Banking Group’s Credit Union Development Fund, managed in partnership with The Credit Union Foundation. This fund is designed to strengthen the financial position of credit unions and give them the capacity to develop new strategies for sustainable growth.
Our directors Philip Turnbull (left) and Charlie Robertson (right) with Jeremy Quin MP (middle).
Swan Credit Union said: “The Board of Swan Credit Union were extremely pleased to receive this grant, which will help to support our continuing expansion and the development of our services to members. It will also provide for an independent review of our future back office service provision to cater for our planned growth… We now manage over £1 million of our members’ money and hope to double that in the next 3 years.”
Jeremy Quin MP said: “As a former Board member of the Swan Credit Union, I know from first- hand experience how important their work is: encouraging savings and offering affordable credit to those who can otherwise pay exorbitant rates to non-bank lenders. I am delighted that this grant from the Lloyds Banking Group will help Swan to achieve its ambitions to grow and help even more members of its local community.”
The back office review will be carried out by Coventry and Warwickshire Co-operative Development Agency. It will be used to inform the strategy being developed to improve the services provided by Swan in North Buckinghamshire, Milton Keynes and South Oxfordshire.