Dumbarton Credit Union Limited, like all credit unions authorised by the Prudential Regulation Authority (PRA) and regulated by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), is growing rapidly and encourages all those who live or work in our common bond of 'G' postcode to join and benefit from the services which they offer.
Founded in 1990 by a small group of like minded activists, who wished to provide a positive alternative to high interest loan companies and loan sharks, the Credit Union has now become a focal point for good and ethical banking facilities within the town. The membership has grown from just 27 members in 1990 to currently over 3300 adult members and 1300 junior account holders. Since 2007 the Credit Union has introduced saving facilities for pupils in a number of schools and hopes to include all schools within our common bond.
Junior members who had accounts opened for them as toddlers and children have been able to transfer those same accounts to adult membership. Most have continued to save and as adults borrow from the credit union. One original junior member has recently been able to obtain a house mortgage through a sister credit union in Glasgow
The services provided by Dumbarton Credit Union are varied and include savings, loans, free insurance and death benefits, These services are available to internet users, with access available to all members. The website for the Credit Union is www.dumbartoncreditunion.org
Brenda Pasquire the Manager of the Credit Union says “in today’s economic climate, it is especially important to celebrate the excellent work that our credit union, and all credit unions in the country, carry out as they provide members with a safe home for their savings and a source of affordable credit.”
The not for profit organisation is owned by all the members of the Credit Union and is looking to the future with a view to increasing the products available to our members.
In recent times the Credit Union stepped in when customers of Farepak encountered problems. Our Special Savings account allows members to put that little bit away for the festive season which is traditionally a drain on financial resources for all families.
In celebrating the 26 years growth of the Credit Union, Olive Schwiglhofer, the current Chairperson adds
“ The Credit Union wishes to place on record our thanks to the forward thinking and community spirited individuals who founded the Credit Union, some of whom continue to be volunteers today, and also to the staff and volunteers of the Credit Union, who have helped to make the credit union the success that it is today”.
For a brief introduction to the origin of the Dumbarton Credit Union please click HERE
For a comprehensive history on the formation of the Dumbarton Credit Union please download Download Full DCU History (132.3kb)