Riverside Credit Union: 30 years of collaboration and social conscience
12 Apr 19
Riverside Credit Union is celebrating a significant landmark in its history, as it reaches its 30th anniversary of service to members.
First established as Speke Credit Union, the credit union was initially formed to support family, friends and neighbours who were being mercilessly exploited by loan sharks and doorstep lenders.
Since 1989, Riverside has been providing a safe savings facility and low-interest loans to thousands of people every year, way beyond the Speke boundary. Manager of Riverside, Mike Knight acknowledges the importance of the early visionaries and volunteers who undertook the task of producing a “first class regulated financial institution” for their community.
Having accepted its first member deposits three decades ago, Riverside now holds more than 2 million in member savings and loaned out over £26 million in 40,000 loans across Liverpool during its 30-year history.
In honour of the dedication of committed volunteers and staff who had a passion to serve their communities Mike said: “It has been one of the greatest distinctions of my life to be able to say that for the last 25 years I have had the privilege of working with a group of people who came together in the spirit of cooperation to produce an authentic community asset that will be in place long after we have all gone.
“Sadly, some of the original group of volunteers have passed away in that time. They were great people who genuinely cared about more than their own immediate needs. Others have moved out of the area. Unbelievably, however, there remain people active to this day in their credit union.”
Just as it was when first set up, Riverside remains a valuable asset to its community. In its last ten years, Riverside has provided £19.5m in low-cost loans. Looking ahead for the future, Mike believes it's always important to remember those "unselfish acts of kindness and commit to memory just how hard those people fought to help others and look to continually improve the offering to our community.”