just Credit Union gives highest ever dividend
Members of just Credit Union have reason to celebrate. At their AGM recently, the members of the union voted to give themselves the highest ever dividend.
Profits from credit unions and other co-operatives are given back to the members as a dividend (interest paid annually in arrears).
All the members of just have to save, so every member will benefit from the decision. The 2.1% dividend will be paid to everyone, no matter how large or small their savings. All the accounts at just are instant access, there are no restrictions on how much has to be deposited, and withdrawals can be made at any time.
There are over three thousand members of just Credit Union in Shropshire who have had the interest credited to their accounts.
Roger Walker, chair of just Credit Union, said:
“We are delighted to be able to offer our members a little more interest than usual. We aim to offer 2%, but it’s good in these uncertain times to be able to offer a little more. Just is growing fast; last year membership grew by 535 – around 34%.
“It’s good news for Shropshire. Money saved and borrowed by credit union members circulates in the local economy and helps to keep it alive. Just has lent over £4m to local people in the last ten years; that’s £4m circulating in Shropshire. Just is a safe place to put your money; not only giving local and personal service, it’s ethical and professional too.”
Gwilym Butler, Shropshire Council’s Cabinet member, said:
“It just shows in this time of financial chaos that credit unions may well be a strong part of stable future financial strategy. I urge local people to join the credit union, which in turn will benefit local people. My congratulations go out to the team in charge in producing such a good dividend.”
For more information on just Credit Union see www.justcreditunion.org, contact Pat on 07972 171597 or manager Karen Farrow on 01743 252325.
Just Credit Union is authorised and regulated by the Financial Services Authority – FSA Firm number 213714.
