Moneywise, the largest credit union in the Northeast of England, is celebrating its 30th year in 2021 with new outreach initiatives and events in its network of branches.
Helping the Community Since 1991
Credit unions like Moneywise are financial institutions similar to banks – the difference being that a credit union is a member-owned, not-for-profit organisation aimed at helping the local community rather than seeking to earn a profit for shareholders.
From humble beginnings in 1991, the Moneywise we know now grew from the Newcastle City Council Credit Union. Originally only permanent employees of the City Council were eligible to join, but today Moneywise offer savings accounts, affordable ethical loans and payroll savings schemes to over 11,000 members from as far afield as Northumberland to the Redcar & Cleveland area, and partner with nearly 50 local and regional employers including Newcastle, Stockton, Middlesbrough and Redcar & Cleveland Councils, Thirteen Housing Group and Beyond Housing.
Also operating under trading names of Tees Credit Union in Stockton and South Tees Community Bank in Middlesbrough and Redcar, from the very beginning Moneywise have been keen to be seen as part of the community it works with and has always had a commitment to outreach and improving the financial wellbeing of its community. As an extension of this and as part of its 30th-year celebrations, it is launching a new “financial health” initiative; driven by its community partnership team, each branch will be working with community, faith and voluntary organisations to promote financial education and improve the financial health of the North East. As well as the financial health project, Moneywise are promoting savings through offering incentives and opportunities to win shopping vouchers, including a draw for all new members who join between July and September! For your chance to win, all you need to do to become a member is visit one of our websites at www.moneywise.org.uk, www.teescreditunion.co.uk or www.southteescommunitybank.org.uk
Phil Goad, Chairperson of Moneywise, said: “We’re extremely proud of our beginnings from an employee credit union to being able to expand out to offer valuable credit union services to the Newcastle and Teesside communities and beyond. We can see in the last ten years alone; the growth has been tremendous and there are many more members of our communities to reach yet. We are excited for what the next 30 years will bring”
To celebrate our 30th Year all new members who join between July and September will be entered into a draw to win one of 10 £30 shopping vouchers. Visit www.moneywise.org.uk to find out more.