Chairman reports on a successful year

Total membership up! Share deposits up! Value of loans granted up!  These were among the highlights reported to the AGM of St Albans District Credit Union by Chairman Colin Metcalfe last week.

Total membership grew although junior membership fell slightly with the closure of some school saving schemes. Share deposits continued to increase overall, up by £47,140 (up 5 %). Adult savings grew more strongly but junior savings declined partly because of the closure of saving schemes referred to earlier. The value of Credit Union loans granted in the year grew to £172,318 (up16 %) although the number of loans granted fell to 110 from 120 the previous year.  The Board’s policy of tighter control of lending has continued and at the year end the Credit Union loan book had grown to £245,322.

 

For full details of the Chairman’s Report click here

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