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  1. Deborah travels to Los Angeles for Inclusiv conference

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    Northern Community Bank’s chief operating officer Deborah Smith-Hands recently represented both Northern Community Bank and UK community bank movement at the Inclusiv conference in Los Angeles. Deborah joined representatives from seven British credit unions on the trip, which was sponsored by CitiBank. The conference sees the largest gathering of community development credit unions in the US.

    More than 300 credit union and community development professionals gathered at the Inclusiv conference devoted to the credit union movement and inclusive economies. The UK delegates were taken to Ventura Country Credit Union and Premier America Credit Union to gain an insight into how the US credit union model operates. The conference had a variety of seminars with topics ranging from socially responsible investing, to diversity and inclusion, and building more resilient and equitable communities.

    Deborah shared the visit with representatives of Advance, Bradford District, Clockwise, Lanarkshire, London Mutual, Police and Salford Credit Unions. The party joined 100 conference attendees on a site visit to SCE Federal Credit Union’s Boyle Heights branch, Los Angeles, to learn about SCE’s financial education programs and the loan services they provide to the community.

    It was inspiring to hear the story of the Boyles Height Branch and how the, now retired, COO George Poitou had to overcome so many obstacles to get the branch up and running, including the building being condemned and them having to move out of it again!”

    Deborah, Pennine chief operating officer

    At the branch, which featured a mixture of modern and Mexican architectural elements, Deborah and the UK delegates were treated to a traditional performance from the Folklor American Dance Company

    SCE Federal is a welcoming, modern credit union, with so much space to hold events for its members and their families. It was very apparent that the community was at the heart of everything they did.

    Teresa Manning, CEO of Leicester’s Clockwise Credit Union, presentation regarding her credit union’s in-house digital transformation was enthusiastically received by the conference attendees.

    Teresa’s presentation was the talk of the conference. The UK contingency were already impressed with what Clockwise had achieved in house and their ability to turn loans around in minutes but the US Credit Unions were blown away! Surprisingly, the US are behind the UK with their advancements in technology, so seeing what could be achieved was very exciting for all who attended the session

    The trip was co-ordinated by Northern Community Bank’s trade association ABCUL who have a partnership with Inclusiv, who represent the community development credit unions in the US. Northern Community Bank’s relationship manager at ABCUL, John Haslam said

    Attending this year’s Inclusiv conference was a fantastic opportunity. It’s clear that although there may be differences between the UK & US credit sectors, there are also striking similarities – not least the provision of affordable financial services to all parts of society. We have enjoyed meeting and learning from, a wide variety of US peers and I’ve got no doubt we’ll be bringing back some innovative ideas with us.

    Deborah brought back a number of developments that Northern Community Bank will look to implement to improve the saving and loan services we provide to the local community in the upcoming months

    Getting the chance to attend a US Inclusiv conference was a dream. I have always been in awe of their size and the products that they are able to offer. And although they often operate on a much larger scale, some having millions of members, the principles remain the same as ours. They exist to help people in their communities and it was really inspiring to see them in action

  2. Local Service. Global Reach – International Credit Union day 2019

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    On October 17th, Northern Community Bank will join with 56,000 credit unions around the world in celebration of International Credit Union (ICU) Day 2019.

    There are 200+ million credit union members around the world and Northern Community Bank joins them in celebration of the not-for-profit cooperative spirit that all credit unions share.

    This cooperative spirit has led to life-changing opportunities for people all over the world who’ve wanted to move into homes, get married, buy a car, take a family holiday or develop their business but were denied access to other financial institutions. In many parts of the world, people’s first taste of democracy is through their credit union, where “one member, one vote” is the governing structure.

    At its most basic level, a credit union is people pooling their money to provide each other with affordable loans—it is literally people helping people. This is why Northern Community Bank celebrates International Credit Union Day. Because credit unions empower people, wherever they are in the world or life, to take control of their financial future.

    The local communities are welcome to stop by any of our three branches in Nelson, Colne and Burnley to find out our credit union, the ethical savings and affordable loans services that we provide. Join us as we celebrate a movement that concerns itself with the financial success of all people.

  3. Northern Community Bank challenges you to head in a new direction when it comes to car finance 

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    Buying a new car undoubtedly remains one of life’s great pleasures. That new car smell. Hitting the open road for the first time. Testing out all those new gadgets. Squeezing three kids in for a trip to Burnley Asda. The last one maybe not so much. But even having to parallel park three miles from the entrance of a supermarket could never wipe a new car smile away. You know what might do though? Having to deal with new car finance or used car finance.

    Even just reading the words ‘car finance loan’ can have you going from 60 – 0 in three seconds. So buckle up, sit back and let us explain why when it comes to buying a car, one of the stops on your journey should definitely be Northern Community Bank.

    The simple way to get a car finance loan

    Northern Community Bank’s aim when it comes to helping somebody apply for a car loan is to make the process as straightforward and as transparent as possible. Dealers will of course offer car finance deals on their vehicles and we would not be so arrogant to presume that our terms are always going to be better. What we can guarantee is that they will be highly competitive. We can also guarantee that there will be no hidden costs and our trusted and highly-experienced staff will be with you every step of the way.

    Earlier this year, the Financial Conduct Authority released a report showing that 500,000 drivers in the UK had been secretly over-charged by car salesmen looking to pocket extra commission. The word ‘commission’ doesn’t even exist in the Northern Community Bank dictionary. What you will find in there are the words ‘not-for-profit organisation’. While the world of car finance centres around sales and profit, our sole interest is helping our account holders take care of their finances. This is why we keep interest rates as low as possible and operate a ‘what you see is what you get’ policy when it comes to repayments.

    For instance, car finance through a dealer or garage typically starts at 12.9% Representative APR, which is more than we would charge for a loan of more than £3,000. And that is why we would challenge you to, by all means, listen to what they have to offer, but then come and speak to us.

    Interest rates aside, there are no set-up fees, no early settlement penalties and if you do choose to apply for a loan, our decision will be with you faster than a Bugatti Chiron Sport. If a Bugatti Chiron Sport takes around one day to reach its destination.

    Northern Community Bank offers car loans of up to £15,000. That means instead of having to deal with the minefield that can be car finance, you can look at buying your new wheels outright, in time for your next supermarket big shop.

    Apply online or pop into one our Burnley, Colne or Nelson branches for a quick chat, if your car is on the verge of going to the great scrapyard in the sky, give us a ring instead on 01282 691333.

    We’ll be happy to talk through any queries you may have on car finance.

  4. Can you get a loan with bad credit? Yes…because we look beyond the numbers at Northern Community Bank

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    A bad credit history can hang over you like a dark cloud hangs over our ‘beautiful’ British summers. If you’ve ever applied for a loan and seen the words ‘application rejected’ you’ve probably gone through the five stages of no loan grief – denial, anger, confusion, disappointment and acceptance. At Northern Community Bank our sympathetic staff are forever being asked the question, ‘Can you get a loan with bad credit?’

    Well we can’t guarantee summer sunshine – unless of course you’re applying for a holiday loan – but we can help lift those bad credit clouds and set you on the way to a brighter future; one where you’re no longer frantically searching  the web for ‘Can you get a loan with bad credit?’

    Getting through the door can be half the battle when applying for a loan. The good news is Northern Community Bank has an open door policy when it comes to loan applications and these applications are assessed by highly trained members of staff, not a bank of faceless number-crunching machines.

    It may be 2019 but why should a computer determine whether or not you receive a loan? How is it that a person who’s never had credit can struggle to get loan approval? It’s because payment history is the biggest factor in determining a person’s credit score and credit scores are what banks use to grant loans.

    However, at Northern Community Bank we recognise that people’s finances are rarely so black and white. Imagine missing a payment for your new sofa – by just a few days – because you forgot to set up a standing order.  We bet you’ve forgotten the milk before as well. Does that mean you shouldn’t be allowed to buy milk next time you go to the shop?

    Fortunately, unlike banks we don’t judge a person solely by their credit score. Of course, Northern Community Bank does take credit scores into account when dealing with an application but we delve deeper. A person is more than just a number and the relationship between applicant and creditor should be built around openness and trust.

    We talk to people about how they have addressed their past borrowing, we look at income and expenditure, go over the best loan options available. We want the answer to your ‘Can you get a loan with bad credit?’ question to be a ‘yes’. It’s a question we’ve answered ‘yes’ many times before.

    In fact, some of Northern Community Bank’s best account holders today came to us after struggling to get credit elsewhere. And they’re still Northern Community Bank account holders today because we didn’t just say ‘yes’ and show them on their merry way. We guided them towards building a better financial future, one where ‘Can you get a loan with bad credit?’ was a question they no longer needed to ask.

    Here’s three ways how we help do that:

    • We improve your credit rating by reporting payments back to the credit reference agency.
    • We help account holders stick to a saving or loan repayment schedule so we are more likely to lend again if an unexpected expense arises.
    • We recommend our ‘Save As You Borrow’ scheme. It will help you build up savings as you repay your loan meaning if an unexpected expense does occur, you’re already covered.

    So, stop typing ‘Can you get a loan with bad credit?’ into your search engine, apply online for an affordable Northern Community Bank loan or pick up the phone and give us a ring today on 01282 691333.

  5. Meet the CU Futures – Northern Community Bank’s Martyna sits down with the CU Foundation for Q & A

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    Northern Community Bank member services officer Martyna recently joined seven other young professionals from various credit unions around the country to start this year’s CU Futures programme. Martyna participated in a Q & A session with the Credit Union Foundation, who in partnership with ABCUL organise and run the exciting programme that aims to develop young people in the credit union movement.

    What’s a typical day in a community bank?

    “A typical day for me is a busy office environment. All three offices work tirelessly for our members, with requests such as loan applications, opening accounts, deposits withdrawals, or any general queries that members have and a lot more!”

    What part of this job do you personally find most satisfying?

    “Helping people that need us the most is what I find most satisfying about my job. Community banks are there for its communities and we try and help all types of people, anyone is welcome to use it. I can offer help to the Polish community in my area, or for those not comfortable with the English language.”

    What do you like and not like about working in this industry?

    “It allows our members to have a financial stability that they deserve, also being treated fairly and equally. Truthfully, I don’t think there’s anything I dislike about this industry.”

    How would you describe this job to a child?

    “My job is all about helping people. If they need money, they come to us. If they want to save money, they also come to us. I help as much as I can.”

    What are you hoping to achieve from the CU Futures course in the next year?

    “I want to grow and learn as much as possible in this sector. Northern Community Bank continues to thrive in our community, for me to bring something new and useful to my community bank to add to our growth and better our service to members would be a great personal achievement.”

    What advice would you give someone who is just starting off in the credit union sector?

    “To further your career, grab any opportunity that is given to you!”

    If you had to be shipwrecked on a deserted island, what two items would you want to have with you?

    “A boat! It just makes the most sense to take a boat. Preferably something fancy like a yacht, can’t go wrong with a bit of luxury whilst surviving. The second item would have to be a big comfy pillow. Go big or go home right? I need some good sleep to function properly.”

    What would your autobiography be called?

    ‘I’ll do it tomorrow’

    Everyone has a good app idea. What’s yours?

    “An app to find anything that I’ve lost! That would make my life much easier. For example, my keys, I swear they were on the counter just 5 seconds ago and now they’ve ran off.”

    Martyna is a great addition to the team at Northern Community Bank and we are all fully behind her with her CU Futures studies!

  6. Northern Community Bank visit Romania to participate in the FINCare project

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    Northern Community Bank was recently invited to visit Romania to participate in the FINCare project that connects representatives from the credit union and cooperative movement from Romania, Italy and the United Kingdom to share knowledge and best practice to benefit members.

    The FINCare project is organised by UNCAR, the Romanian equivalent of Northern Community Bank’s trade association ABCUL and the Solidarity Lab which concentrates on social enterprise development in Romania. The purpose of the project is to bring the knowledge and experience of the respective movements from the three countries to development the financial education capacity of the credit unions in Romania. Although the focus of the project has been the Romanian credit unions, all participating representatives have seen the benefit of the partnership.

    Returning delegates

    The Romanians and Italians had previously visited the UK in June 2018, where they participated in lectures at Liverpool’s John Moores University and before touring credit unions in the UK. Northern Community Bank welcomed the travelling delegates at our Nelson branch before introducing them to the communities that we serve. British credit unions joined the Romanian delegates in Trento, Italy, in October 2018 to see first-hand the Trentino co-operative model which has gained wide acclaim for its positive economic and social impact upon the area.

    David, Northern Community Bank marketing and development officer, who attended the project based in Bucharest believed the experience has been valuable

    “The credit union model in Romania is very interesting. From C.A.R. Metropolitan, the largest credit union in Bucharest to one of the smallest we visited named C.A.R. Buftea, there are many similarities with the UK movement. However we were introduced to a number policies and procedures at the 10 credit unions that we visited that could improve the service we provide to members in Burnley, Pendle and the surrounding areas”

    The delegates first travelled northwest from Bucharest to the Dâmbovița County where they visited three credit unions, at each the staff explained how they operate and the impact they had on the local community. On the second day the group attended lectures from a number of Romanian credit unions who congregated at the conference in Bucharest and also heard from Iulia Pasa, UNCAR’s Director of Supervisory.

    Supporting the members of the community

    At all the credit unions we visited it was plain to see that member’s needs were the most important factor in the way they operated. They are very good at encouraging saving, whilst highly efficient at lending those savings to the community. It was interesting to see the work the lulia and her team were doing to monitor the credit unions and spot potential risk. Being so proactive meant they could tackle issues that may have a negative impact on the cooperatives.

    The party then travelled northeast to the Ukraine/Moldova border to visit two credit unions.


    The northern community Bank team with other credit union people in Romania

    “One of the most interesting branch visits was to C.A.R. Galati, where we were introduced to a forward thinking credit union which is using digital technology to connect to their members. The CEO and Board recognised that to compete with the national banks they needed to offer a full range of services and be accessible”

    Northern Community Bank is part of a worldwide not-for-profit co-operative movement that aims to provide access to ethical savings and affordable loan accounts to communities across the globe. By sharing experience with other credit unions we believe it improves the service that we bring to our local community.

  7. Where’s the best place to apply for a personal loan? Northern Community Bank, of course

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    If somebody had asked you 20 years ago where the best place to apply for a personal loan was, you’d have probably answered ‘bank’.
    The world was a lot different 20 years ago though. Burnley FC were nowhere near the Premier League, mobile phones were for playing ‘Snake’ on and Google had just been founded.

    Thankfully; time, banking and loans have moved on quite a bit. If you’re wondering where the best the place to apply for a personal loan is nowadays, then Northern Community Bank should be the first name that springs to mind. And one of the main reasons for this is…trust.

    Northern Community Bank has provided over £50 million in loans to the community over the past 36 years. As a co-operative our account holders can be assured that loans are designed purely with only their interests at heart and not those of external shareholders.

    We know how often people scour the internet looking for the best place to apply for a personal loan. After all, managing money is a stressful experience. It doesn’t matter whether you’re trying to keep up with the bills or you’re after buying something for yourself; money is never far away from our thoughts.

    However, searching for the best place to apply for a personal loan does not need to be a stressful experience.

    You can apply with us online or call into one of our branches in Nelson, Colne or Burnley. Our highly trained staff are ready to discuss the very best loans and savings account in a confidential and comfortable environment.

    Maybe you want this season’s football kit for the family or maybe you’re in the market for the latest Apple iPhone. Maybe with August Bank Holiday just around the corner now is finally the time to start cracking on with that list of jobs you’ve been putting off around the house. From decorating a bedroom to fitting a new bathroom, Northern Community Bank has you covered, with loans of up to £15,000 available.

    So the next time you’re sat there – tearing your hair out – wondering where the best place to apply for a personal loan is, log onto www.northerncommunitybank.co.uk or give us a ring on 01282 691333.

  8. Short term loans could be just the answer you are looking for

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    One of the main things we pride ourselves on here at Northern Community Bank is ensuring our account holders – or potential account holders – walk out of our branches with the best loan or savings accounts possible. When it comes to short term loans, this has never been more essential.

    Some households still press the panic button when an unexpected expense crops up – like a failed car MOT or the television going on the blink – and find themselves on the doorstep of a payday lender.

    With Northern Community Bank, our short term loans not only offer you a financial lifeline but as an ethical alternative we are confident that our interest rates will be more competitive than most short term lenders.

    We know about short term loans

    If you stop by one of our branches in Burnley, Colne or Nelson, our dedicated and knowledgeable staff will be on hand to talk you through exactly why our short term loans could be the answer to your current set of circumstances. Naturally we understand some people like the ease of applying for loans online, which could not be easier with our step-by-step secure online loan application.

    A large portion of lenders still prioritise committing people to longer term loans for larger amounts. If you want a new car or an expensive family holiday then of course Northern Community Bank is here to assist, but our main commitment is helping account holders find the right loan at the right time and that’s why, unlike a lot of lenders, we offer smaller value loans. We understand how these smaller sums can have a big impact on a person’s life.

    When it comes to repayments – whether it be short term loans or any other type of loan – our priority is the account holder’s peace of mind. The last thing we want is a person overstretching and worrying about their finances, so repayments are tailored to suit you. There are no set up or application fees either.

    We make the loan application quick and simple

    We know that speed can be of the essence when it comes to short term loans and if you need money fast then you will want to know how long the application process is going to take.

    Northern Community Bank aim to arrive at a loan decision within two days, if we have all the information present. However, more often than not this is done within one working day. Once approved the money is transferred straight into your account.

    While going through a short term loans application, setting up a savings account may be the last thing on your mind. However, at Northern Community Bank we understand the importance of savings and that is why all account holders are encouraged to ‘Save as you Borrow’ no matter how short or long term.

    What does save as you borrow mean? It means that as part of your repayment, a small amount is taken out to build up a savings account ensuring next time that extra expense crops up you’ll most likely be able to help yourself.

     

  9. The majority of 20-30 year olds have no savings in the UK

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    Worrying figures suggest 53% of millennials, aged between 20-30 years olds have no savings in the UK.

    The latest figures from the Office for National Statistics (ONS) suggest that over half of millennials in the UK, aged 22-29 have no savings at all in an ISA or traditional savings account. This made Northern Community Bank look at our account holders to see if we were providing young people in our community with access to safe savings accounts.

    At Northern Community Bank account holders age 20-30 have £490,000 in savings. The average balance is £450

    The Wealth and Assets Survey from the ONS measures changes in incomes, debt and asset wealth among different groups within society. The figures follow national saving levels which show UK households are savings less than they ever have since the 1960’s.The results are worrying for the 20-30 age group as they show that over the past 10 years the rise of non-savers has risen from 41% to the current 53%.

    Credit unions have always strived to encourage and nurture savers. At Northern Community Bank we provide free young savers accounts from birth, opened by any guardian, parents, family members or friend to start saving habits early.

    For those who borrow from Northern Community Bank we follow the credit union ‘Save As You Borrow’ method. Where people build savings as they repay loans. This helps to build safety nets for when a loan matures or unexpected expenses, such as a car or washing machine break down occurs.

    As Northern Community Bank has developed on the past 37 years we have made it easier for young people in the community to save. Account holders can save through direct payments such a standing orders or benefit entitlement from DWP, through payroll deduction from a number of local businesses or with cash in any of our three branches. The secure ‘Online Account’ area is very popular with all age groups but especially those in the 20-30 age bracket who enjoy the ability to watch their savings grow on mobile phones 24/7.

    As national saving levels across all ages decrease, we are proud to provide a safe place to save for the local community. Nearly 25% of all Northern Community Bank’s account holders are millennials and that increases month-on-month, with the average 20-30 year old holding around £450 in savings at the community bank.

    We are proud of our account holders, especially the millennial savers who are building for the future.

  10. Northern Community Bank celebrates its 37th Birthday today

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    Northern Community Bank celebrates its 37th birthday 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. Now with well over 6,000 adult members and assets of over £7 million, which includes £6.2 million in collective savings. Offering access to affordable borrowing for the Burnley and Pendle communities is one of the main drivers for continuing to improving the services we provide, since Northern Community Bank was created we have lent out over £50 million to local people!

    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 Credit Union to form Pendle Community Credit Union. On the 1st October 2013 Pendle Community Credit Union merged with Burnley Area Community Credit Union to create Northern Community Bank.

    Northern Community Bank has seen many progressive developments since it was created. Originally operated by volunteers we have progressed to having 15 paid members of staff who are still assisted by volunteers. The collection points at both St Leonard’s Church in Padiham and Palace House and Woodbine in Burnley are still operated by dedicated volunteers.

    2018 saw Northern Community Bank purchased and totally renovated our newest branch in Burnley at 48 St James’s Street  situated between Dorothy Perkins, the bustling coffee shops and Banks which line the high street. The new Burnley branch has a purpose built cashier counter, interview room, boardroom and office space. It has already been a hit with current and new account holders who love the town centre location.

    Northern Community Bank recently launched the £500 Family Loan and Savings Scheme. The loan is paid with a family’s Child Benefit, with an element used for loan repayment and small amount to build savings and the surplus returned to the account holder’s bank account. The £500 Family Loan has no credit check but keeping up with repayments will help to improve the account holders credit score as Northern Community Bank report to credit agency. The online application is greatly reduced and we aim to have a loan decision and deposit the £500 within 1 working day!

    Recognising account holders desire to apply for loans with ease in their own time, Northern Community Bank have again improved the online joining and loan application process over the last year with the introduction of the Join & Borrow platform. The new streamlined online loan application we hope to make applying for an affordable loan quicker, easier and more convenient for new or existing account holders.

    For existing account holders the new service will severely reduce the amount of time it takes to complete a loan application. After completing security access, the account holder’s details will be prepopulated, including current balances, eliminating the need to re-enter information. An additional benefit of the new platform is the ability to attach supporting documents to the application, such as bank statement, proof of new address or wage slips.

    Northern Community Bank’s savers were paid a competitive dividend of 0.75% again this year. For an instant access savings accounts this is very competitive and holds its own when compared to some ISA and other saving options which have withdrawal penalties.

    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 Community Bank.

  11. ABCUL conference attracts credit unions from across the UK

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    Northern Community Bank attend largest gathering of credit union representatives in the UK at ABCUL conference.

    The three day conference included the launch of the Young Professional Network and a proud moment as Northern Community Bank Director Mario joined the ABCUL Board of Directors.

    The ABCUL conference in Manchester contained a packed schedule for members of Northern Community Bank’s Board and staff in March. The conference brought together 330 delegates, who represented credit unions from across the UK to participate in the workshops and attend plenary sessions designed to help the movement improve the services we provide to our communities.

    The conference saw the launch of the ABCUL Young Professional Network. Our chief operating officer Deborah Smith-Hands was part of the steering committee who organised a dedicated programme that ran alongside the main conference which was attended by Northern Community Bank staff members Isaac and Martyna. The network will provide a platform for young professionals to engage and promote the credit union movement. It will also provide an opportunity for young professionals to connect, learn and live out cooperative values, which enables young volunteers and members of staff at credit unions to develop into leaders.

    All reported that the programme, which was facilitated by US-based credit union expert Dr Brandi Stankovic, was exceptional and energising – focusing on personal leadership development, coaching and emotional intelligence.

    The Young Professional Network is part of sector wide commitment by ABCUL to support young members of credit union staff, complimenting the North West Youth Forum which launched in January.

    Deborah Smith-Hands who has been involved in launching both networks, said:

    “The networks will bring training and development opportunities for young people working in the sector and a platform for our future credit union leaders to connect with like-minded people. These networks are vital in order to retain young talent in our sector.”

    During Saturday’s ABCUL annual general meeting Northern Community Bank Director Mario Arnone was accepted onto the ABCUL Board of Directors. President Gerard Spain described the appointment

    “It was an incredibly proud moment for Northern Community Bank when Mario was officially confirmed as our first representative on the national trade association board with his appointment as an ABCUL director.”

    Gerard congratulated fellow Board member Mario

     

    “Thank you for showing the commitment to getting involved in this capacity, you will be a very good addition to the ABCUL board and I am sure will make an excellent contribution. It is always good to get additional Community Credit Union representation on the ABCUL board.”

    A number of sessions at the conference looked at FinTech companies who are developing software that will benefit credit union account holders by making it easier and faster to save or borrow through technology such as mobile telephone apps.

    ABCUL also announced that the year-long CU Futures programme will accept applications for new students from credit unions across the UK. Both Deborah Smith-Hands and Jodie Bastable have completed the course from Pennine, as a credit union we fully support the programme and the benefits it has brought to the movement.

  12. Northern Community Bank praised at 37th AGM by Burnley civic leaders

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    Northern Community Bank 37th AGM sees the community bank being praised by Burnley civic leaders for the new branch on St James’s Street.

    Account holders recently heard speeches at the AGM, held at Turf Moor, by Burnley Council Leader Mark Townsend and Julie Cooper MP. Both were pleased that the community bank had made a strong commitment to the area by purchasing and renovating the branch on St James’s Street, where residents can discuss their saving or borrowing needs with members of staff.

    Julie Cooper MP, complimented Northern Community Bank on opening the new Burnley branch

    “Congratulations on the new office, what a great advertisement! It is fantastic to have a high profile town centre office of the calibre Northern Community Bank have achieved. Northern Community Bank’s ethical savings and affordable loans are admiral principles”

    Mark Townsend informed the 90 account holders in attendance that he had visited the new branch on numerous occasions and had been impressed with standard of renovation and ethos of the organisation

    “Welcome to St James’s Street, you should be proud of your building. The facilities offered by Northern Community Bank are very impressive, you continue to go from strength to strength. Northern Community Bank’s values aren’t just written down, they are being lived every single day!”

    Northern Community Bank President Gerard Spain presented a good picture of the credit union’s performance over the financial year. Assets rose 9% to £6.8m, with healthy loan growth for the third successive year by 17%. On behalf of the Board of Directors, Mr Spain thanked CEO Kathryn Fogg for 20 years of service and detailed the phenomenal success under her leadership

    “20 years ago we were based at St George’s Church in Nelson, the savings balance was under £600k and the loan book was under £500k. Fast forward 20 years – Northern Community Bank own two branches, hold collective savings of £5.6m and the loan book currently stand at £3.4m.”

    The community bank decided a dividend rate of 0.75% on savings, this was pointed out to be well above the UK average instant access savings rate of 0.25%.

    Northern Community Bank 37th AGM selected The Rosemere Cancer Foundation for our annual £500 charitable donation. Julie Hesmondhalgh, who represented the Foundation, explained how the money donated would be used to help local families by funding cutting edge equipment, vital research and other cancer services that are beyond limited NHS resources. It does this to bring world class treatment to cancer patients from throughout Lancashire and South Cumbria being treated at Rosemere Cancer Centre, the region’s specialist cancer treatment centre at the Royal Preston Hospital, and at another eight local hospital cancer units across the two counties, including those at Burnley General and the Royal Blackburn Teaching Hospitals.