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Credit Unions

The Duchess of Cornwall is a committed supporter of credit unions not for profit regulated banks. The Duchess believes these organisations play an important role in their local communities and she wants more people to know about them. Her Royal Highness's interest in credit unions began in 2010, when she visited North Wiltshire Credit Union in Chippenham. Since then, The Duchess has visited six other unions in England, Scotland, Wales and most recently, the Assiniboine Credit Union in Manitoba, Canada, to learn more about the excellent work they do. 

On October 16th 2014, The Duchess hosted a reception to mark International Credit Union Day. Her Royal Highness was joined at the reception by representatives from the world of business, banking and politics, as well as credit union members and volunteers, and celebrity supporters, including the Irish singer-songwriter Imelda May, television presenter Eamonn Holmes and money experts, Martin Lewis and Paul Lewis.

Speaking at the reception, The Duchess of Cornwall said: 'I believe Credit Unions can change the way we talk and think about savings and loans. They can encourage those who have the means to save, and bring in from the cold those vulnerable people who struggle to qualify for loans. The simple fact being that if more of us support them by opening savings accounts, they will be able to offer more loans to those who really need them.'


Photos

  • The Duchess of Cornwall visits London Community Credit Union in East London.

    The Duchess of Cornwall visits London Community Credit Union in East London.

  • The Duchess of Cornwall visits London Community Credit Union in East London.

    The Duchess of Cornwall visits London Community Credit Union in East London.

  • The Duchess of Cornwall meets with junior members of the credit union, branch staff, account holders and key stakeholders at LASA Credit Union in Swansea

    The Duchess of Cornwall meets with junior members of the credit union, branch staff, account holders and key stakeholders at LASA Credit Union in Swansea

  • The Duchess of Cornwall receives a drawing from children as she visits Assiniboine Credit Union in Winnipeg Manitoba, on her fourth and last day of her trip to Canada.

    The Duchess of Cornwall receives a drawing from children as she visits Assiniboine Credit Union in Winnipeg Manitoba, on her fourth and last day of her trip to Canada.

Credit Unions

Credit Unions are not-for-profit community banks that offer everyone a place to save money and access loans. They are owned by their members and exist to serve them, and consequently are often very engaged with their local communities.  Credit unions often operate in areas not typically served by more traditional financial institutions or commercial banks. There are more than 57,000 credit unions in the world, serving nearly 208 million members in 103 countries. In the UK alone there are 524 credit unions, with almost 1.5 million members. 

International Credit Union Day (ICU Day) has been celebrated annually, on the third Thursday in October, since 1948. The theme for ICU Day 2014, 'Local Service, Global Good' was chosen to emphasize credit unions' positive impact in their communities and around the world. 

Videos

The Duchess of Cornwall hosts a reception for Credit Unions

  • The Duchess's speech on Credit Unions

    The Duchess of Cornwall gave a speech during the reception at Clarence House to mark International Credit Union Day.

    Read HRH's speech

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