£10m of assets available to Hull credit union members

Published: Monday 4th January 2016 by The News Editor

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Credit union members in Hull are reaping the benefits of a successful merger.

Last year, Hull and East Yorkshire Credit Union joined forces with North Lincolnshire Credit Union. It has now been revealed by the the Scunthorpe Telegraph that they have access to an asset base worth £10 million.

A wider range of savings and loans products have also since been introduced, plus there is a start-up loans service for new businesses

“We have passed a significant milestone – achieving an asset base of £10 million,” says John Smith, chief executive of Hull and East Yorkshire Credit Union.

“As a result we are recognised as one of the leading credit unions in Britain.”

Hull and East Yorkshire Credit Union is currently working with 60 other credit unions across the country as part of the Credit Union expansion project, which is bringing members faster, more modern services.

“We are determined to show that well-run, locally owned credit unions can provide a fair, friendly and effective alternative to the profit and bonus culture that the banking sector has unfortunately become known for,” adds Mr Smith.

Copyright Press Association 2016

Published: Monday 4th January 2016 by The News Editor

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