Merseyside-based Enterprise Credit Union (ECU) who have just achieved a significant milestone by surpassing £40 million in assets in July 2023. This enables them to help more local people strengthen their financial resilience than ever before.
ECU is one of the largest community credit unions in the UK serving over 23,000 members in Merseyside, with an increase of members of approximately 20% over the last five years. They have been offering affordable loans, safe savings, and ethical financial services since 1988.
Since its humble beginnings based out of a local church, ECU has expanded to serve families and organisations across Merseyside, including Knowsley, Liverpool, St Helens, Warrington, and the Wirral.
Chair of the Board, Tony Denny said: “This is a fantastic effort from all involved. This achievement would not have been possible without the continued loyalty of our members, the hard and dedicated support of our team, and volunteers over the years”.
Cllr Graham Morgan, Leader of Knowsley Council, said: “Credit unions play a valuable role in providing affordable credit and making financial services accessible to a broader section of society. With many people struggling during the cost-of-living crisis the services of credit unions are more important than ever. I’m delighted to see Enterprise Credit Union continuing to flourish in Knowsley and help support people who may otherwise struggle without the services they provide.”
Despite the challenges posed over the past couple of years, ECU has remained resilient for its members, supporting them through the difficulties posed by the COVID-19 pandemic and the ongoing challenges of the cost-of-living crisis.
ECU continues to distribute any surplus generated from lending as a dividend to its members, amounting to over £540,000 last year.
Beyond this, the credit union invests in local community causes: “We have invested in the local community through the Friends of Enterprise lottery, which with the help of our members, has enabled us to donate over £60,000 to 56 local grassroots community groups since it launched in 2021,” said ECU CEO, Karen Bennett CBE.
Separately, ECU has recently refurbished their head office at Hall Lane, Huyton to improve accessibility and quality of services for members, with plans to refurbish their other offices too.
ECU remains committed to serving its members and remaining an inclusive organisation.
To find out more, visit enterprisecreditunion.org