19 August 2019
At our last AGM the Board reported that it was investigating the possibility of a merger with another credit union in order to put our credit union on a more sustainable, long term, footing. At the board meeting last week, this moved a stage closer when the board decided to recommend to our membership that we merge with Affinity, an established credit union that covers the Allerdale and Copeland districts on the west coast of Cumbria.
This is very early days, and there are many issues to be resolved, but I would like to reassure our members that our operation remains on a sound and secure footing – nothing has changed in that respect.
The recent upturn in the number of loans that we are approving indicates to me that our services are definitely needed and appreciated. I believe that in due course, and as a result of the merger, we will be able to offer ethical savings and loans to a far wider public.
It goes without saying that nothing will change without the approval of our members. We will be arranging Special General Meetings for all members during the autumn in order to explain the benefits of merger, and to put the merger proposal to the vote. Members will be informed of the date and timing of those meetings.
Dave Plumb – Acting Chair, Eden and South Lakeland Credit Union