From small beginnings…

Originally situated in a small office within Glasgow City Chambers with two members of staff, Glasgow Credit Union has grown substantially during the past four decades to become the most financially successful credit union in the UK.

Although there have been many changes over the years including a change of name, logo, premises, our main aim has always remained the same: to help our members and ensure they have access to friendly, professional financial services that meets their needs.  Below we have listed some important dates in our history:

June 1989 – Glasgow District Council Employees’ Credit Union formed, operating from small office in Glasgow City Chambers.

April 1990 – Membership reaches 1,000.

December 1990 – Members vote at pay the first ever dividend on savings, 2%.

January 1991 – Loans granted reach £1 million.

December 1994 – First lottery draw with car as top prize (Vauxhall Corsa).

April 1996 – Scottish local government re-organisation takes place. Employees from former regional council services such as Education and Social Work now eligible to join the Credit Union. The Credit Union changes its name to Glasgow Council Credit Union (GCCU).

July 1996 – Credit Union moves from City Chambers to its own premises at 105 Bell Street.

July 1997 – GCCU becomes the first Credit Union in Great Britain to obtain certificate 11c, enabling it to utilise legislative deregulation to grant larger loans over longer periods.

September 1998 – First British Credit Union to record a £1 million surplus.

July 1999 – Credit Union celebrates 10th Birthday with balloon launch at George Square with £12,500 raised by members for charity!

September 2001 – 15,000th member joins.

July 2002 – Glasgow Council Credit Union becomes part of the Financial Service Compensation Service and the Financial Ombudsman Service.

August 2002 – Credit Union moves to larger premises in Morrison Street.

October 2004 – GCCU receives Mortgage permission from the Financial Services Authority.  Now permitted to offer mortgages over 25 year term.

August 2006 – The membership vote in favour of expanding the common bond to everyone living or working within the Greater Glasgow ’G’ postcode area.

September 2006 – FSA approve expanded common bond.  GCCU now open to serve anyone who lives or works within a G postcode.

February 2007 – Name changed to Glasgow Credit Union to reflect expanded common bond.

February 2008 – Deputy First Minister and Health Secretary, Nicola Sturgeon joins Glasgow Credit Union as 20,000th member

June 2009 – GCU Celebrate 20 years of success.

July 2010 – 25,000th member joins. A new logo is introduced as part of a brand refresh.

October 2012 – Asset size reaches over 100 million – the first credit union in the UK to ever reach this size.

October 2013 – Glasgow Credit Union voted Glasgow’s favourite business by readers of the Evening Times.

May 2017 – Glasgow Credit Union launches across three social media channels: Facebook, Twitter and Linkedin.

July 2017 – 40,000th member joins.

October 2017 – 97th Employer Partner comes on board to offer services to staff through payroll