Membership Increased and New Credit Union Community Groups Open in South Norfolk

South Norfolk Credit Union has had its head office in Long Stratton for two years now and growth has been steady until quite recently, when things have really started to get busy. The Credit Union has the largest common bond area in Norfolk and it has always been the goal of the members to extend access across the whole of the South Norfolk area through small community group access points. These have recently opened in Harleston and Wymondham, run by volunteers on a weekly basis and there are further community groups working to open-up in Costessey, Diss and Loddon later this year. Membership is already up to 97, which the Credit Union is expecting to double this year. Accordingly, the Credit Union is in need of new volunteers, committee members and board members to help with the development programme and growth.

South Norfolk Credit Union Ltd, like all Credit Unions around the world, is a financial co-operative managed by volunteers, which is not run for profit. Any money it makes is used to develop the Credit Union, or shared out between the members. South Norfolk Credit Union is available to anyone living or working in South Norfolk.

“We now need more volunteers to help us manage this expansion and to help with new community group Credit Union points around the district – I’d also like some help here at the office in Long Stratton” said Maureen Henson the Credit Union’s Assistant Treasurer.“ Although it takes a bit of effort to fully understand how the systems work, it is a really rewarding voluntary job, especially when we are able to help someone get a loan for essential items, like shoes for the children or a new washing machine” Mrs. Henson continued.

Lots of people are starting to think about other ways of paying for things now having been caught out in the past by high cost loans from door-step loan companies or store cards. “I’ve already had several conversations with people already thinking about saving up for Christmas this year” said Hazel Newman, a volunteer at the Harleston community group “some people just use the Credit Union as a savings club for holidays or school uniforms, but it is also really useful for those people who get unexpected bills or emergencies like broken down washing machines and the like. Often the only other option for our members is to go to a loan company which knocks at their door – what most people call ‘loan sharks’ - which charge really high interest rates and pester them for the repayments. Our members say it is a real relief when they can come to us and get a good loan at a reasonable repayment rates” she said.

South Norfolk Credit Union needs people with all sorts of skills but full training and support is provided so no previous experience is required. It might be that groups of parents or friends could be trained to run a Credit Union community group point in conjunction with an existing community activity such as a playgroup or school. Often, credit unions are run from places of work with the help of a union, or by a group of employees.

“We also need to attract some new volunteers with Board of Director or Committee member potential to strengthen the management structure which will support the expansion programme” said the Credit Union’s President, Alan Squirrell. The kinds of experience people might have could include marketing, administration, finance, insurance, personnel, training or retail.

If you would like any further information, please contact Mark Bishop (Acting Volunteers Coordinator) on 01508 533934 for an informal discussion or speak to the Credit Union Team on 01508 533842 or e-mail sncu@ic24.net.

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