We're now open as EdenSave Credit Union - please go to our new website www.edensave.com
Pledging support at the Devonshire Arcade
Eden Credit Union Study Group is made up of volunteers that are working towards setting up a Credit Union in Eden. We have support and backing from Eden District Council and Cumbria County Council, among others, but in order to function we’ll need members – savers, borrowers and volunteers.
Need help? Contact the England Illegal Money Lending Team on 0300 555 2222.
Please see the Volunteer page for details of the training we are doing for volunteers.
Celebrating the approval of EdenSave Credit Union
9 July 2013: We are delighted to announce that we were given the go ahead to form a credit union today by the Prudential Regulatory Authority and the Financial Conduct Authority. We received compliments for the quality of our application.
We plan to open the credit union for business in the autumn - currently scheduled for October 2nd,2013 in the Arcade shopping centre in Penrith.
We have now recruited a paid member of staff,which will help us in the start-up period. We're endeavouring to keep this as short as practicable, but you will understand that there will be great deal of preparation and training needed. Our first premises will be in Penrith, but after that we'll be opening our outreach centres in Alston, Kirkby Stephen and Appleby as soon as we possibly can. To do this, we'll need volunteers from each area to help us, and will be letting you know shortly how you might be able to assist with this.
We would still love people to fill in a Pledge Form to indicate your support. Download our information leaflet
The credit union will provide savings and affordable loans to people living or working in Eden District. We plan to extend this to organisations and businesses when we can.
The plan is to start with a head office in Penrith, opening for various 2 hour sessions each week. We will then run further sessions in Alston, Appleby and Kirkby Stephen. Finally, Lazonby, Shap and Kirkby Thore are possible further venues after that.
The credit union will have a website - we hope that you will be able to check your account balances. Similarly we hope to be able to provide you with a prepaid card that can be used in shops, at cash machines and to make purchases online.
We are very grateful indeed for these grants:
August 2012: Eden District Council has awarded us £22,680 from their Rural Infrastructure Fund to be spent by April 2014.
June 2012: Cumbria County Council has agreed to continue funding us, with £17k for both 2012/13 and 2013/14.
May 2012: Our application to the Santander Foundation for a £10k grant has been approved. This will give us the minimum reserve to satisfy the FSA standards.
December 2012: Cumbria Fells & Dales and Solway & Borders RDPE grant approved.
We visited several shows around Eden District over July and August 2012. We held meetings in Alston and Kirkby Stephen as well as many in Penrith. We have visited two credit unions. More details...
The study group has very busy getting ready: preparing a business plan, choosing an IT system, preparing policies, receiving training, putting in funding bids and preparing to submit our application to the Financial Services Authority. As they say, the more the merrier, so please consider volunteering to help us, particularly if you have skills to offer.
The study group has a busy schedule of meetings for 2013 - everyone welcome - do come along.
Please download a publicity poster from our Publications page - please print and display at your place of work, local library or village hall.
Can you help spread the word? If you have some spare time and enthusiasm please contact us on how you can get involved.