There have been credit unions in Stockport for nearly 30 years. The first credit union in Stockport was started in Brinnington in 1989, followed over the next 10 years by Houldsworth, Offerton and Werneth. They worked closely together for a number of years and when the Financial Services Authority became responsible for the regulation of credit unions it made sense to join forces. So in December 2005, Stockport Credit Union (SCU) was formed.
SCU is a not-for-profit financial co-operative that provides affordable financial services to people who live or work in Stockport.
Joining SCU is an important way for local people and organisations to increase the supply of affordable credit in the community and to help SCU to be sustainable. Any surplus SCU makes is given back to members in the form of a dividend.
Stockport Credit Union is a responsible, not-for-profit financial co-operative that provides affordable financial services to people who live or work in Stockport. Joining the credit union is an important way for local people and organisations to increase the supply of affordable credit in the community and to help to build a secure financial future for all Stockport's citizens.
Our Vision is to build a strong, financially secure community and to improve the financial well-being of everyone who lives, works or studies in Stockport.
We will do this by:
Stockport Credit Union is a member of ABCUL, the Association of British Credit Unions Limited. ABCUL provide a set of Model Rules for their members. The Rules are a legal document that have to be adopted by the credit union, and 'sworn' at a solicitors. The Rules describe how the credit union Board of Directors must operate and carry out its business. It defines who can be a member, how to treat loans and shares and how meetings must be conducted. On page 9, there's a space for the map of our common bond - or the area that our credit union covers. You can join Stockport Credit Union if you live or work anywhere in the borough of Stockport. If you have any questions about the Rules, please get in touch.
Stockport CU Rules Click here to get your copy of the rules
SCU has grown very rapidly over the last two years as more and more people have come to rely on the services provided by the Credit Union. There is no such thing as a typical member. Ages range from newborn to people in their 70’s and 80’s. Members live or work all over the Borough: some are in work, others are not. They borrow money from SCU for all sorts of reasons including to carry out essential repairs at home; to go on holiday; for school uniforms; to get a tattoo and to buy spectacles. We have even granted a loan to a member to get their horse castrated!