Glasgow Credit Union has paid a £4.74 million return to its members following approval of a 3% annual Dividend at its Annual General Meeting (AGM), making this the strongest year yet for the financial institution and its members.
The payout represents almost 85% of the credit union’s annual surplus, reflecting another year of robust and sustainable financial performance after a record dividend last year. This consistent return demonstrates the resilience of the credit union’s business model and its ongoing commitment to deliver value for its members.
More than 65,500 members have benefitted from the distribution, with the average payment of approximately £72 per adult member providing practical financial support at a time when many households continue to face economic pressures.
In addition, 975 Junior members will receive an average payment of £55, reinforcing Glasgow Credit Union’s dedication to supporting financial wellbeing across all age groups.
David Ross, Chief Executive Officer, Glasgow Credit Union, said: “This year’s Dividend reflects the ongoing strength and stability of our organisation. By consistently generating sustainable returns, we can continue to provide our members with meaningful financial benefits while ensuring the credit union remains resilient for the long term.”
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Founded in 1989 to provide savings and affordable loans, Glasgow Credit Union has grown to serve residents and workers across the G, PA, KA, ML, and FK postcode areas, and several UK wide employers. It is one of the largest credit unions in the UK. Over its history, it has returned more than £54million in Dividends and interest rebates to members and contributed over £1billion in financial benefit to the local economy.
As a member-owned mutual, the credit union reinvests profits to serve its members. Members’ savings support affordable lending and sustainable investments, helping to secure long-term financial stability for the community.
For more information, visit: Glasgow Credit Union – Savings, Loans and Mortgages | Glasgow Credit Union
