Greater Manchester credit unions unite for Covid-19 support campaign

Eight community credit unions from across Greater Manchester have launched a Covid-19 recovery plan to provide financial support communities across the city-region.

Know as Sound Pound, the consortium of organisations aims to raise awareness of community credit unions as more people face greater financial uncertainty in light of recently announced return to lockdown.

Manchester Credit Union, South Manchester Credit Union, Stockport Credit Union, Cash Box Credit Union (Tameside), Unify Credit Union (Wigan), Hoot Credit Union (Bolton), Salford Credit Union and Oldham Credit Union have all signed up to the Sound Pound joint initiative.

David Batten, chief executive of Hoot Credit Union in Bolton and chair of the Sound Pound consortium, said:

We have come together to launch this joint recovery plan which has a clear objective – to rebuild communities, support people and lend responsibly.

We want to encourage anyone who is struggling financially due to the impact of Covid to speak to their community credit union about their borrowing needs. By supporting local people and offering them credit, it will increase spending and keep our economy moving forward. It’s a cycle and, if we work together, we can keep going.”

Through responsible lending, the not-for-profit organisations hope that by encouraging people to look to local credit unions for financial support, they can help provide a boost to the Greater Manchester economy as well as support people to save for the future and become financially independent in the long-term.

David Batten concluded:

Credit unions offer support to local people whatever their needs are. Whether they are a single parent struggling to make ends meet, are looking for a deposit for their first home or need some help with managing their finances and putting some money away. Credit unions are also there to support local businesses and we offer a range of support services to help them with the increasing pressures they are currently experiencing.

“Our Sound Pound recovery plan has been created to rebuild communities, support people and lend responsibly and it will play a crucial role in driving our local economy forward, helping all of us to build back better from the impacts being felt by our communities across Greater Manchester due to the Covid-19 pandemic.”

Watch the Sound Pound launch video here: