Enterprise Credit Union – £20.2 million worth of loans in a year
04 Aug 17
Enterprise CU has seen a massive growth in their loan portfolio over the past year with over £20 million pounds being issued to the members within its community. The Board and staff are celebrating at hitting this landmark and are amazed at not only the amount but also the volume which reached over 29 thousand loan applications being approved.
CEO Karen Bennett spoke earlier “This overall growth is in line with our business objectives, however even we didn’t foresee the massive growth in the amount or value of loans issued which is a 38% increase is on the year before.
“This is a real reflection on our loyal members and the change in policy we implemented this year. In addition to new starter loans increasing month on month, the bulk of these loans are amongst our loyalty loan products. We are what some would call an old fashioned credit union where we base our lending on the savings and history people have with us. However this traditional approach has proved so successful we see no reason to change it.”