Founded | 2003 |
---|---|
Type | Industrial and Provident Society |
Location | |
Website | elcu.co.uk |
East London Credit Union Limited was a not-for-profit member-owned financial co-operative, based in Walthamstow and operating in the east London boroughs of Waltham Forest, Enfield, Haringey, Hackney, Newham, Redbridge and the Epping Forest district of Essex. All members of the credit union were instant savers; different loans were provided depending on individual circumstances.
Waltham Forest Community Credit Union (not to be confused with the separate Waltham Forest Council Employees Credit Union) was formed in 2003. It became East London Community Credit Union and finally, East London Credit Union in 2015.
A member of the Association of British Credit Unions Limited, [1] registered under the Industrial and Provident Societies Acts, East London Credit Union was authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and PRA. Ultimately, like the banks and building societies, members' savings were protected against business failure by the Financial Services Compensation Scheme. [2]
The credit union went into administration and the FSCS declared it in default on 11 September 2019. [3] [4] [5] [6] [7] [8]
The London Borough of Waltham Forest is a London borough in north-east London, England. Its population is estimated to be 276,983 in 2019. It borders five other London boroughs: Enfield to the north-west, Haringey to the west, Hackney to the south-west, Newham to the south-east and Redbridge to the east, as well as the non-metropolitan county of Essex to the north.
Leeds City Credit Union Limited is a not-for-profit member-owned financial co-operative, formed in 1987 and based in the West Yorkshire city of Leeds. White Rose Credit Union, of Wakefield, and Your Loan Shop are trading names of Leeds City Credit Union.
The District of Canterbury Credit Union Limited was a savings and loans co-operative based in the cathedral city of Canterbury. In 2011, it merged with the larger Kent Savers Credit Union.
The Financial Services Compensation Scheme (FSCS) is the UK's statutory deposit insurance and investors compensation scheme for customers of authorised financial services firms. This means that FSCS can pay compensation if a firm is unable, or likely to be unable, to pay claims against it. The FSCS is an operationally independent body, set up under the Financial Services and Markets Act 2000 (FSMA), and funded by a levy on authorised financial services firms. The scheme rules of the FSCS are made by the Financial Conduct Authority (FCA) and are contained in the FCA's Handbook. The FCA also appoint its Board and the FSCS is ultimately accountable to the FCA. The scheme covers deposits, insurance policies, insurance brokering, investments, mortgages and mortgage arrangement.
North West London Credit Union Limited was a savings and loans co-operative, operating in the north west London boroughs of Barnet and Brent. Based in Grahame Park, it had over 1,000 members and branches in Burnt Oak, Edgware, and Finchley. In 2013, it merged with London Capital Credit Union and the branches were closed.
London Mutual Credit Union Limited (LMCU) is a not-for-profit member-owned financial co-operative, based in Peckham and operating in the City of Westminster and the London boroughs of Southwark, Lambeth and Camden. The primary lines of business include retail banking, deposit-taking and lending.
London Capital Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Archway and operating in the City of London and north London boroughs of Barnet, Camden, Hackney, Haringey and Islington.
Hornsey (FIA) Co-operative Credit Union Limited was a savings and loans co-operative, established in the Municipal Borough of Hornsey, now part of the London Borough of Haringey, in 1964. One of the earliest credit unions in the United Kingdom, it merged with London Capital Credit Union in 2013.
Rainbow Saver Anglia Credit Union Limited was a not-for-profit member-owned financial co-operative, based in Lowestoft and operated through 18 collection points in the East Anglian counties of Suffolk, Cambridgeshire and certain districts of Norfolk. It was established in 1999 and had 3,500 members.
Eastern Savings and Loans Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Ipswich and operating through 25 local payment and information points in the East Anglian counties of Suffolk, Cambridgeshire and Norfolk. The credit union has 6,500 members.
London Community Credit Union Limited is a member-owned and led financial co-operative, operating in the London boroughs of Hackney, Haringey, Islington, Newham, Tower Hamlets, Waltham Forest and the City of London. It has over 17,000 members and 4 branch offices in Bethnal Green, Poplar, Hackney and Stratford.
National Fire Savers Credit Union Limited is a not-for-profit member-owned financial co-operative, based in the London Borough of Southwark and operating throughout Great Britain. It has assets in excess of £11,000,000.
Unity Credit Union Limited formally Manchester Unity Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Manchester and operating throughout the United Kingdom. The credit union was first established for members of the Independent Order of Oddfellows by Manchester Unity Friendly Society in 1991.
Commsave Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Northampton in the English Midlands. In 2020, it absorbed Northamptonshire Credit Union. As at 31 March 2021, Commsave has 30,875 members with over £90m worth of savings and £45m on loan to members.
Plane Saver Credit Union is a not-for-profit financial co-operative, with their main office based in Harlington, and a second office at Heathrow Airport. A member of the Association of British Credit Unions Limited, Plane Saver has over 11,500 members, over £45 million in assets, and have lent more than £100 million to date.
London Plus Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Fulham and operating in the City of Westminster and west London boroughs of Hammersmith and Fulham, Kensington and Chelsea, Wandsworth and Hounslow. Wandsworth Plus Credit Union is a trading name of London Plus Credit Union working in partnership with Wandsworth Council in south-west London.
The Lincolnshire Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Lincoln and operating throughout the county in the English Midlands. In 2011, the credit union had approximately 2,000 adult savers, nearly 500 borrowers and 350 junior savers. LincUp, Alford and District Community Bank and Louth Community Bank are previous trading names of Lincolnshire Credit Union.
North London Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Enfield and operating in the north London boroughs of Enfield, Barnet, Haringey, Waltham Forest and southern Hertfordshire. The credit union manages assets in excess of £3 million.
Thamesbank Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Hayes and operating in the south west London Boroughs of Hounslow, Richmond upon Thames, Wandsworth, Kingston upon Thames and the Spelthorne district in Surrey.
The 2022 Waltham Forest London Borough Council election was on 5 May 2022. All 60 members of Waltham Forest London Borough Council were elected. The elections took place alongside local elections in the other London boroughs and elections to local authorities across the United Kingdom. the Labour Party maintained its control of the council, winning 47 out of the 60 seats with the Conservative Party forming the council opposition with the remaining 13 seats.