Blues and Twos drives up lending
22 Mar 17
Blues and Twos Credit Union has enjoyed a bumper month following a drive to reach members who had never previously borrowed from it.
The credit union made new loans worth almost £300,000 in February, many of them to members who had been regular savers with the credit union for some time but were going elsewhere for their borrowing needs.
Blues and Twos Credit Union’s Chief Executive Vicky Harrison said “It’s great to see our marketing working and to have the opportunity to provide so many more members with loans for their new ventures.
“Word of mouth has historically been our best form of advertising with members introducing others, but as our total savings continued to grow at a far greater pace than the loan book, we extended our marketing mix to reach those savers who we know are looking for loans but have never borrowed from us.”
Blues and Twos Credit Union formed in 1992 and serves Lancashire & Cumbria Police, Fire and Ambulance services as well as the county and local councils and members of Unison and Unite working in the two counties. The credit union celebrated its 25th anniversary this month, and has grown over the years to serve 7,300 members who have savings worth £12.4 million and are borrowing £6 million.
The successful February loans drive followed a campaign of extra events held throughout 2016 to promote membership and everything credit unions are good at - encouraging members to save as they borrow.
Vicky Harrison added: “I’d like to thank the office team for their hard work and commitment during the February promotional period, and we’re looking forward to continued growth during our special 25th anniversary year of encouraging members to save and borrow responsibly with their credit union.”