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    1. Home
    2. News
    3. Celebrating 50 Years of Credit Unions in Great Britain

Celebrating 50 Years of Credit Unions in Great Britain

                 Golden anniversary for credit unions  Print

   LASER Credit Union is celebrating the fiftieth anniversary of the first
   credit union in Britain.

   Credit unions have been putting their members first and providing them
   with the financial services they need since 1964.  There are now nearly
   400 in Britain which together provide responsible savings and loans to
   over 1 million people and look after over £1 billion in assets.

   Credit union pioneers from across the country were honoured at the
   recent Annual Conference of the Association of British Credit Unions
   Ltd.

   LASER Credit Union was formed in 2003 and serves over 4500 people in
   Rotherham.

   Liz Thompson Chief Executive said: “While it is important that we grow
   and change to continue meeting the needs of our members we shouldn’t
   forget the founders whose ambition and innovation helped us get to
   where we are today.

   “We are proud at LASER Credit Union to be part of a national and
   international movement which makes decisions for the best interests of
   its members, not external shareholders.”

   Credit unions in Britain didn’t gain a legal structure until the Credit
   Unions Act came into force in 1979, but they existed either as
   companies or co-operatives from the mid 1960s.  The first credit unions
   – Wimbledon Credit Union and Hornsey Co-operative Credit Union – were
   registered in London in 1964.  Wimbledon Credit Union closed a few
   years ago while Hornsey Co-operative Credit Union transferred into
   London Capital Credit Union in 2013.

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     * LASER Credit Union Ltd Units 9&10, The Old Town Hall Rotherham S60
       1QX Authorised by the Prudential Regulation Authority and regulated
       by the Financial Conduct Authority and the Prudential Regulation
       Authority. Registered No 691C, FCA No 216632 Tel: 01709 836500
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