You may know what a credit union is, but there is probably a lot you don’t know about us. 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:
Glasgow District Council Employees’ Credit Union formed, operating from a small office in Glasgow City Chambers.
Membership reaches 1,000.
Members vote at the AGM to pay the first ever dividend on savings, 2%.
Approved loans reach £1 million.
The first lottery draw with a car as the top prize (Vauxhall Corsa).
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 changes its name to Glasgow Council Credit Union (GCCU).
The credit union moves from City Chambers to its own premises at 105 Bell Street.
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.
First British credit union to record a £1 million surplus.
GCCU celebrates 10th Birthday with a balloon launch at George Square with £12,500 raised by members for charity!
15,000th member joins.
Glasgow Council Credit Union becomes part of the Financial Service Compensation Service and the Financial Ombudsman Service.
The credit union moves to larger premises at 95 Morrison Street.
GCCU receives mortgage permission from the Financial Services Authority. Now permitted to offer mortgages over a 25-year term.
Membership vote in favour of expanding the common bond to everyone living or working in the Greater Glasgow ‘G’ postcode area.
FSA approves expanded common bond. GCCU now open to serve anyone who lives or works within a G postcode.
Rebranded to Glasgow Credit Union to reflect the expanded common bond.
Deputy First Minister & Health Secretary, Nicola Sturgeon, joins as 20,000th member.
Glasgow Credit Union Celebrate 20 years of success.
25,000th member joins. A new logo is introduced as part of a brand refresh.
Asset size reaches over £100M – the first credit union in the UK to ever reach this size.
Glasgow Credit Union voted Glasgow’s favourite business by readers of the Evening Times.
Glasgow Credit Union launches on three social media channels: Facebook, Twitter and LinkedIn.
40,000th member joins.
Marketing department wins ‘Excellence in Communications’ award at the Glasgow Business Awards.
97th Employer Partner comes on board to offer services to staff through payroll.
Glasgow Credit Union Celebrate 30 years of success.
50,000th member joins – a significant landmark for the UK credit union movement.
The credit union partners with its 100th employer in Glasgow, offering payroll deduction services.
As highlighted above, we have come along way since starting out in 1989. To this day, we strive to be the best credit union we can be for our members, but also for the community of Glasgow. With our bespoke products and strong sense of service, we hope to continue this as well as keeping our community strong with financial education, Giving Glasgow and the Big G Lottery.