News and Updates

Our Annual General Meeting held over the Internet on 27th March was virtually attended by a record number of members. Reports were read by our Chairman Steve Denham, Manager Alan Ward and Mike McDermott of our supervisory committee.

Members attending the meeting heard that finances are strong and that we are in a good position to move forward into another year where we will be working to improve services and accessibility for our members in Chesterfield and North East Derbyshire. New members continue to join in increasing numbers and together with our existing membership they have received over £1 million in loans.

In the year ahead we plan to build on these foundations with an improved range of loan and saving products. Recently introduced is our Premier Loan enabling existing members to borrow larger amounts up to a maximum of £4000. Also recently introduced are new savings accounts designed to help members enjoy a good holiday and cope better with the cost of Christmas. Alongside the new products we continue to offer Personal Loans up to £1000, Family Loans, Home Appliance and Back to School loans along with our adult and children’s savings accounts.

Our financial education outreach continues at several Chesterfield Schools where we take savings each week from over 400 children. A pop-up Credit Union office is also planned at Chesterfield College to provide financial services and education for the students. To improve financial inclusion for older people we operate outreach schemes at local community centres to provide space where local people can discuss financial issues and find solutions.

We are always working to improve our systems making the best use we can of available digital technology. Examples are progress in the automation of our back office systems, the continuing development of our Internet services App and an online joining and new member certification system.

Over the coming year we plan to build on these developments and provide more accessible and improving savings and lending services to our members old and to new.

We were delighted to be able to give five wonderful gifts to our members before we said Goodbye to 2023.

We did a Christmas prize draw with five hampers full of delightful goodies. The members who received the hampers said that it was a huge help during this festive time when wallets were stretched thin.

All members were automatically entered into our prize draw, and we randomly picked five numbers on 15th December. And the hampers happily met their owners in time for Christmas.

Thank you to our staff and volunteers, Tesco and the Cheese Factor who contributed generously to our Christmas hampers.

 

Credit unions started in Germany as long ago as 1840. By the 1900s they were well established in America but they did not reach the UK until 1964 when the Hornsey Co-operative was established in North London to improve financial inclusion for Caribbean families. It still operates today as London Capital Credit Union.

The movement grew in the UK particularly in the 1980s and 90s and by 1995 the need was seen to improve financial inclusion for local people and so Chesterfield & North East Derbyshire Credit Union was formed.

Initial finance was provided by Chesterfield Borough and Derbyshire County Councils and at first it was just run by volunteers operating from temporary offices.

By the Millenium over 200 local people had joined and improved facilities were required so a permanent office was opened at Theatre Yard in Chesterfield and in 2009 Karen Peck was appointed as its first full time paid manager. The improved facilities led to further growth, word spread and in 2011 Anne Lunn who had up to then worked as a volunteer was appointed as the first paid employee. Anne still works for Chesterfield Credit Union today together with Janet Taylor who was one of the first members. Janet has now been a member for nearly thirty years and still volunteers every Tuesday to answer the telephone.

By 2014 the business had outgrown Theatre Yard and the move was made to the present shop premises on Soresby Street in Chesterfield town centre. In 2018 Karen retired and Alan Ward the present manager was appointed. Since then Chesterfield Credit Union has grown steadily, added to its range of loan and saving products and is now lending over £1 million to local people.

 

As you probably know Chesterfield Credit Union is run by a nucleus of professional paid staff but to keep operating cost as low as possible services are also partly delivered by volunteers.

Have you ever thought of volunteering?

It can be very rewarding to feel that you are helping to provide a service that is used and valued by other members of our community and it’s a way to meet interesting new people. For young people it’s also a way to gain work experience and something else to put on your CV and for older and retired people a way to learn some new skills and stay actively involved in the day to day world on your doorstep.

We are currently looking to recruit volunteers for our schools programme in Hasland, St Augustine’s, Boythorpe and Woodthorpe Schools and also for Saturday mornings at our Chesterfield town centre office.

For more information or an informal talk about possible opportunities telephone 01246 278833 and ask for our manager Alan Ward.