NEWINGTON Credit Union has reported sustained momentum with strong membership support in the past twelve months and is confidently looking to growing its membership further in 2024. Publishing its year end results Newington Credit Union said it has provided over £12 million in loans to the local community over the past year. Membership has grown by 493 members in the year and they hold savings of over £54 million.
Julie-Ann McStravick, CEO from Newington Credit Union said: "2023 was an overall positive year for our credit union. As more and more people look for trusted sources of finance, we’re continuing to see increased demand for our services. We are very pleased to have supported over 6,700 members to undertake home renovations, make large scale purchases, such as a new car or pay for a wedding and to enjoy holidays at home and abroad.
“We are acutely aware of the significant pressures which so many people face due to the increases in cost of living and we are pleased to also provide smaller loans to members to help them at ‘pinch points’ during the year, such as back to school costs or extra expense at Christmas. The credit union ethos is to use our funds to help our members and that is what we do at Newington Credit Union.
“As we continue to support our members and our local community, it is imperative that we continue to make responsible and prudent decisions to further strengthen the credit union.”
Newington Credit Union has continued to strengthen in 2023, albeit in a very challenging economic environment.
We are pleased to offer our members a return on their savings by paying a dividend of 0.7% this year, and a loan interest rebate of 11%. We would like to thank all of our members for their continued loyalty and support of our services.
Julie-Ann McStravick, CEO continued: “We continue to focus our efforts on enhancing and expanding the services which we provide, in order to offer the best possible service to our members.
“We also want to take this opportunity to thank all of our members for their loyalty during the year. We recognise and appreciate your support and with your continued loyalty, we will continue to make a positive difference to our community.”
For further information, please contact: Newington Credit Union on 02890
3510401 or visit www.newingtoncreditunion.co.uk
