2. Credit Unions “A credit union is a financial co-operative owned and run by its members, that offers an accessible saving facility and affordable loans to its members.”

3. Credit Union Movement Worldwide - 97 Countries, 54,000 Credit Unions 178 million members £603 billion in savings UK - Leeds City Credit Union – 25000 Members Glasgow Credit Union – 23000 members Numerous employer based Credit Unions including Police, Royal Mail, British Airways

4. Regulation Financial Services Authority Registered and Authorised Office of Fair Trading licensed Financial Services Compensation Scheme covers 100% of all members’ savings (up to £50,000) Internally & externally audited Data Protection Registered Governance – Board & Supervisory and Credit Committees

5. Why Blackpool? Low pay High levels of deprivation Doorstep Lenders & Loan Sharks High Interest Lenders Lack of local Credit Union Presence Financial Inclusion Agenda Sustainable Community Strategy 2008-2028

6. Our Approach Initial Partnership of local employers Steady Growth Expanding community engagement Phase 1 - Launch to current partner staff – Jan 09 Phase 2 - Expand employer partnership – Jan 10 Phase 3 – Broaden to community – Jan 11

7. Progress Authorised by Financial Services Authority – Jan 2009 600 members Products- Member savings account - Xmas savings account - Low cost loans Initiatives- DWP Growth Fund - North West Climate Foundation - Wysemoney (Fylde Coast YMCA)

8. Priorities 1200 members Integration of Wysemoney initiative Increase Growth Fund contract New products Financial Inclusion Strategy

9. For More Information Blackpool, Fylde and Wyre Credit Union Telephone: 01253 478827 Email: bfwcu@blackpool.gov.uk Website: www.bfwcu.co.uk