Northern Community Bank is 36 years old today. We started as Nelson Community bank on St George’s Day at St George’s social centre on Vaughan Street.
On April 23rd 1982, a Saver Group was launched with just 15 members and the first collection produced a total of £75 in share savings. We registered as Nelson Community Community Bank (NCCB) on August 31st in 1982.
The past year has sadly seen two of those founders members pass away, which has meant we have looked back with greater focus of the foundation those 15 founder members laid down to allow Northern Community Bank to grow into the multi branch organisation serving many more people in the Burnley and Pendle over the past 36 years.
As NCCU grew from its Vaughan Street base year on year it was agreed the services should be available to the whole of Pendle, and in October 2005 NCCU merged with Colne & District Community Bank to form Pendle Community Community Bank. On the 1st October 2013 Pendle Community Community Bank merged with Burnley Area Community Community Bank to create Northern Community Bank.
Now with well over 5,000 adult members who have collective savings of over £6.4 million, and since its creation we have lent out over £47 million to local people!
Northern Community Bank has seen many progressive developments since it was created. Originally operated by dedicated volunteers we have progressed to having 15 paid members of staff who are still assisted by volunteers. This enables Northern Community Bank to provide our savings and loan accounts to more people in the community from our three branches.
We have also made it easier to deposit at Northern Community Bank accepting standing orders, a range of benefit payments, cheques and cash. We increased the number of savings accounts after members expressed feedback relating to saving for Christmas, holidays and the need for budgeting for bills.
Developments on the loan application process has made it far easier and convenient for account holders to apply for loans; account holders can apply on the secure online accounts area, via telephone or in person at any of our branches.
As a financial co-operative that operates solely for the benefit of the local community we are always looking for ways to improve. If you have any suggestions please get in touch.
As always Northern Community Bank will also strive to push forward and this year will be no different. Thank you for your continued support, Northern Community Bank would not have developed without you – the account holders who own the Credit Union.
