Credit Union celebrates a great year

There was good news all round as Pennine Community Credit Union celebrated its 34th annual general meeting.

Friday, 18th March 2016, 11:16 am
Simon Parker, from Emmaus House, Andrew Stephenson MP, Mayor of Pendle Coun. Nawaz Ahmed and his wife Mayoress Azmat Ahmed at the Pennine Community Credit Union AGM. (s)

More than 90 people joined MP Andrew Stephenson and the Mayor of Pendle, Coun. Nawaz Ahmed, at the ACE Centre in Nelson to discuss another successful year for the not-for-profit co-operative.

PCCU president Gerard Spain said the organisation now boasts more than 5,600 adult accounts along with nearly 900 junior accounts.

He also revealed the total collective savings held at the PCCU had gone past the £4.3m. mark allowing the organistion to continue issuing affordable loans.

“We should all be very proud of what PCCU has achieved in becoming totally self-sufficient three years ahead of plan with over £570,000 of reserves still intact,” said Mr Spain. “We are in a very financially sound position.”

After the meeting, Coun. Ahmed congratulated the PCCU, which has offices in Burnley, Colne and Nelson, while Andrew Stephenson MP, a member of the Credit Union, said: “I am delighted to attend for another record- breaking year. This is clearly a growing movement nationwide as people are recognising the benefits of Credit Unions. They are still a well-kept secret and we need to spread the message.”

A sum of £400 was also donated to Emmaus House, Burnley, in support of the charity’s tireless work with homeless people.

Simon Parker, representing Emmaus, said: “The donation will be used on van, roof and boiler repairs and will not be wasted. We are very humbled at the donation and it is a sign of the Credit Union’s values.”

Supper was served and guests were entertained by Arden Angels Youth Choir, which is based in Pendle and benefited from a PCCU donation in 2013.