Working with partners to develop the Salford Credit Union – Salford City Council

• Lead Member Salford City Council
• Categories Finance, Strategy

Salford Credit Union is seeking to become the lender of choice for everyone who lives or works in Salford, after developing its visibility through a close partnership with the Council, registered social landlords and community organisations.

Salford Credit Union was a well kept secret. Then its new Board in 2012 made working with partners a priority to raise public awareness of the benefits of joining it.

The Union now is committed to expanding to become the lender of choice for everyone who lives or works in Salford. The Board has transformed its operations with the support of, and with, local partners that share a common vision for tackling loan sharks, excess debt and financial exclusion.

Co-operation with the City Council and its community committees and with registered social landlords (specifically Salix Homes, City West Housing, Pendleton Together and Great Places Housing), has lead to greater involvement in local events, such as the A Taste of Salford in September 2013. Engagement has been undertaken with community organisations, e.g. the Broughton Trust and Salford Unemployed Resource Centre, and local schools, such as Moorfield Primary School.

The Union now operates weekly satellite services in the council service centre’s to give more people access. It has also expanded the range of products it offers. It can now send funds electronically to bank accounts, offers a new pre-paid debit card and issues Post Office cheques as safer alternatives to cash. It will shortly launch a new payment card. Meanwhile, the Union has continued to work with members who struggle to repay loans.

As a result of all this, the Union’s membership went up to 750 in 2013 compared to 520 the year before. So, more people can get low cost, ethical loans from the Union and avoid loan sharks and exorbitant lenders. Members are receiving support to get back in control of their finances. In recognition of the very wide range of changes and the support it has received the Union won the national Edward Filene Credit Union award for partnership working in 2013.

To discuss the Salford Credit Union, please get in touch with its CEO Sheila Murtagh, who can be reached at: sheila.murtagh@salfordcreditunion.com. You may also wish to visit the Union’s website, available at: https://www.salfordcreditunion.com/.