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20:20 vision for Norwich CU members


11 Jan 17

With people feeling the pinch after Christmas, Norwich Credit Union is encouraging existing members to spread the word about its affordable loans and savings.

During January 2017, the first 20 adult members to successfully recruit a new member (who goes on to save regularly for a period of 6 months) will have a £10 reward paid into their credit union account. The new member also gets £10 added to their savings at the end of 6 months - hence the credit union has named it the 20:20 scheme.

Norwich Credit Union President Jon Warne explains: “Like many community organisations, we only have limited funds to promote our services. We value our members, who often act as our best ‘advert’; at least 50% of people joining us each month have been recommended by an existing member – someone they know and trust.

“With our 20:20 scheme, we’re rewarding the membership and any friend, relative, neighbour or colleague they introduce to us in the local community.”

The 20:20 scheme runs until 31 January 2017, or until the first 20 new member referrals are made. If they wish, members can choose to donate their £10 to the credit union’s Development Fund (which supports micro-credit organisations in the developing world) or to the Helping Hands fund, which makes emergency loans to local people in need.

Norwich Credit Union was established in 1989 and serves anyone who lives, works or studies in the Norwich and Norflok postcode areas. As well as its head office in the city, the credit union operates a number of local service points, trading under Norfolk Save & Borrow in the wider county. Norwich Credit Union has more than 750 members, and has to date made loans worth almost £1.5 million to local people.

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