Voluntary Sector Award for credit union
25 Nov 16
Chesterfield and North East Derbyshire Credit Union has won a prestigious Voluntary Sector Award.
The local credit union was named Organisation of the Year in the income over £100,000 category at the annual awards ceremony organised by The Volunteer Centre, Chesterfield and NE Derbyshire.
Representatives from the credit union collected the award at a ceremony at Chesterfield’s Pomegranate Theatre. This was the fourth running of the awards programme which recognises those who serve the community of North Derbyshire, and is in fact the second time the credit union has won this award. Two volunteers from Chesterfield and North East Derbyshire Credit Union have also previously been named Volunteer of the Year.
A key part of the credit union’s successful nomination was its Family Loan Scheme. By instructing their Child Benefit to be paid into the credit union, members can borrow up to £500 and make loan repayments direct from their benefit. They are then encouraged to save the remainder.
Particularly aimed at young families who find themselves forever playing catch-up with their bills and turning to high cost lenders to provide a short term solution, this loan scheme has been a lifeline for many local households.
In fact, 98% of members who accessed this loan now save regularly with the credit union, and 65% have been able to clear all their outstanding debts to high cost lenders.
Chesterfield and North East Derbyshire Credit Union Manager Karen Peck said: “We are very proud of this achievement as we feel that the most important part of the service we provide at the credit union is our continued commitment to remaining focussed on our grassroots, ethical origin of supporting local people. Whilst ensuring that our business continues to grow to sustainability, we are always willing to ‘go the extra mile’ to help our members in times of crisis. We rarely turn people away from our door and if we can’t help, we will always look for alternatives and make referrals where necessary.”
Chesterfield and North East Derbyshire Credit Union serves anyone who lives or works in Derbyshire and currently has around 3,700 members.