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Great Western Credit Union provide ethical, affordable & fair loans and saving products giving families struggling with the cost of living crisis, an accessible, regulated and caring finance alternative, promoting financial well-being.
Investments in the bond offer will be matched £ for £ by social investment from Fair4All Finance, up to a total of £1m.
14th July 2023
With just 4 days left of our Bond Offer, we took some time to reflect on all of our amazing achievements since its opening. From being named one of UK’s top 100 social enterprises, to the release of our annual Social Impact Report, we have had an exciting few months!
See what else we have achieved this Spring: https://bit.ly/3NPoYjy
5th July 2023
We are so delighted to have been nominated as finalists in this year's NatWest SE100 Social Business Awards held by Pioneers Post!
We have been recognised in the Social Investment category for our partnership with Ethex and Fair4All Finance during our 2023 Bond Offer investment raise.
The category highlights our exciting entrance into the impact investment space, and we are so proud of the recognition that our first-ever Bond Offer is receiving.
As always, a huge thank you to our investors for their support throughout this raise! -
Great Western Credit Union Team
22nd June 2023
We're very excited to launch our latest social impact report, where we aim to demonstrate the tangible difference GWCU brings
Attached Files:
gwcu-2022-sir-final.pdf
13th June 2023
31st May 2023
22nd May 2023
Can you believe it’s been a month since we launched our Bond Offer?
During this time, we have raised 84% of our target and it is all down to your support.
To help us exceed our target, please share this news on social media and with your connections as together we can continue to offer a cooperative financial system that works for tens of thousands more people across the South West.
Also, if you would like to provide a testimonial to help us promote the raise, please email invest@gwcu.org.uk.
The Great Western Credit Union team
3rd May 2023
28th April 2023
We’re delighted to announce that we have crossed the halfway point on our Bond Offer raise, which was only launched last week!
Thank you to everyone who has invested or shown an interest so far. To continue to help us on our mission towards £800,000, please feel free to let your networks, partners, friends and colleagues know about our mission to make purpose-driven finance more accessible.
The Great Western Credit Union team
25th April 2023
Just under a week after our Bond Offer was launched, we have achieved our minimum target! We are now in a good place to continue toward our goal of £800,000 and it wouldn’t have been possible without your support.
Please feel free to share this news with your networks, friends and colleagues. By doing this you’ll be helping us to bring financial stability to tens of thousands more people across our region.
The Great Western Credit Union team
21st April 2023
Thank you to everyone who has already invested in our first-ever Bond Offer. Within the first 48 hours, we have raised over 25% of our target to help make purpose-driven finance more accessible across the South West.
We’d appreciate your continued support, so please share the news on your social channels and with your friends and colleagues to help us spread the word. Together, we can make a difference.
The Great Western Credit Union team
20th April 2023
Prior to launching the investment offer, we ran a webinar where we chatted with Great Western Credit Union and Fair4All Finance, who are providing match funding for the investment. You can watch a recording of the full webinar here
You can watch a 10 minute cut down version here
Or you can watch 3 minutes of highlights here
Great Western Credit Union
Society no. 597C
Bristol, UK
Incorporation date: 15 July 1999
Improve the quality of life for families and individuals, through access to fair and affordable finance to make vital purchases.
Help break the cycle of debt for low-income households and provide education on financial well-being.
Give people at home and in the workplace the chance to save and borrow in ways that make the entire community better off.
Earn a potential return. Your investment will target a return of 6.5% and is eligible to be held within an IFISA*
Across the UK, families and individuals are struggling with the cost-of-living crisis and many cannot access affordable credit when needed to fund necessary purchases. GWCU provides an accessible, affordable and caring alternative to payday loans or loan sharks for their membership of over 18,000 people, helping them develop healthier money habits and break the cycle of debt. They currently take care of £10 million+ of members’ savings and £8.6 million+ of loan balances. They offer:
Every pound invested in GWCU’s bond offer will be matched by Fair4All Finance, up to £1m, so the impact of your investment will be effectively doubled! Here's what your money will do:
Our Directors have an extensive background in finance and decades of experience working in the sector, with a passion for giving back to the community.
https://greatwesterncu.org/
Chair
Lewis joined the Board in 2016. He has over 20 years’ experience in financial services, primarily at Lloyds Banking Group working across all their consumer distribution channels. He left in 2009 to establish a small luxury travel business with his partner. Lewis returned to banking, joining fintech Atom Bank to head their customer experience function prior to launch. He is currently back at Lloyds to help develop their digital channel capability for business customers.
Secretary
Peter joined the Board in 2021, and until October 2022 was the lead lawyer for the Environment Agency on a range of corporate governance issues where he led a diverse full service in-house legal team. Peter was a trustee then chair of the UK Environmental Law Association until 2011; and a trustee and then chair of St. Werburghs City Farm in Bristol until September 2018. He has also contributed to a wide range of publications about the environment.
Director
Jonquil is Chair of the Audit Committee. She brings 25 years’ experience from Lloyds Banking Group, in Retail, Commercial and Operations functions, and her qualification as a Certified Accountant to her role as a Director.
Director
Denis brings experience from having held several voluntary non-executive roles, including as Chair of school governors, supporting a technology start-up, and on the board of St. Paul’s Carnival - where they won Best Event in the 2019 Bristol Life Awards. Denis works for multinational companies helping to deliver digital and IT transformation projects.
Director
Sara has worked as a Senior Research Fellow at the Personal Finance Research Centre, at the University of Bristol since 2009. Her research focuses on understanding financial policy and products from the perspective of the consumer.
Director
Simon is an experienced board Trustee and Director, having worked with many different organisations including churches, schools, the Redcliffe Children’s Centre, and Derbyshire Community Bank. Simon is Director of Ministry Development for the Bristol Diocese, previously Canon Chancellor of Derby Cathedral, and Priest in Charge at St. Mary Redcliffe.
CEO
James began his involvement with credit unions in Bristol as a volunteer Director whilst still working for the Bank of Ireland (UK) as Senior Market Analyst, UK. His previous retail banking experience included operational and ICT roles with Barclays Bank and a number of marketing roles with both Barclays and Bank of Ireland. He combined a number of smaller credit unions into the new Bristol Credit Union in 2006 and has provided leadership for the organisation since then. He continues to deliver strong growth in membership, savings and lending as well as leading the organisational, technological and people changes necessary in responding to members’ changing needs and the growing requirements of a scale-up, whilst maintaining a constancy of vision and purpose.
Head of Change & Operational Strategy
Karen is a qualified accountant and has had a successful career of over 20 years in Banking as a Finance and Business leader. She supported GWCU to deliver its digital transformation in 2020 with excellent financial expertise coupled with strong communication and change management skills, all underpinned by an operational, and commercial understanding.
Senior Marketing Manager
Claire joined GWCU in 2016 and leads on all aspects of GWCU’s marketing activity, including member communications and engagement. She has over 20 years’ experience in marketing in the public and charitable sectors.
Head of Finance
Henry is GWCU’s Head of Finance and joined us in 2017. He is responsible for performance analysis, forecasting and reporting. His data interrogation and modelling underpin our financial plans and new product development. He’s a qualified accountant who previously worked for Second Step, the Bristol mental health charity. Prior to that, he had 20 years’ experience as a maths teacher and senior manager in further education colleges.
Operations Manager
Keith has 20 years’ experience working in credit unions, both in the United States and the United Kingdom. He was originally the Lending Manager for GWCU, transitioned to the Member Support Manager role and is now Operations Manager, overseeing the day-to-day functions across GWCU for Lending, Member Support and Member Services. His broad experience gives him insight not only into the internal functions and employee experiences, but also the member experience. He is people-focussed and strives for the best outcome for employees and members alike.
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GWCU expect to pay an interest rate of 6.5% per annum that will accrue from the closing date of the offer.
The Bonds are transferable which means technically they can be sold to a willing buyer. However, the Bonds will not be listed on a formal exchange, and there is no guarantee that you will be able to find a buyer nor the price they might be willing to pay. You should expect to hold the Bonds for the 8 year term.
Applicants must be 18 years old or more. Investments cannot be made on behalf of children.
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