Unity Trust Bank

Noble Lords, credit union workers, politicians, representatives of civil society organisations and trades unions attended the launch of Unity Trust Bank’s National Credit Union Awards for Excellence, held at the House of Lords on the afternoon of 22 July.

These unique awards, which are a first for the British credit union movement, have been designed to champion and pay tribute to the extraordinary work of the countless unsung individuals who give their time and expertise to the credit union movement, many on a pro-bono basis.

Guests at the launch heard speakers, Lord Brookman of Ebbw Vale, Damian Hind MP, Chair of the All Party Parliamentary Group on Credit Unions and Marlene Shiels, British Director of the World Council of Credit Unions, praise the valuable role credit unions play in British society and how the Awards can play a vital role in galvanising the whole of the UK-wide credit union movement.

Nobel Peace Prize winner and Honorary Patron of the Awards, John Hume, who still considers his credit union days “to have been one of the most important periods” of his life was unable to attend the event but wished everyone “a great occasion and every success”.

Marlene Shiels, British Director of the World Council of Credit Unions said, "The World Council of Credit Unions is delighted to be part of the Unity Trust Bank National Credit Union Awards 2010.  Every day over 49,000 Credit Unions worldwide are providing services and products to their members, especially to those in most financial need. These awards are a tribute to those credit unions and individuals that demonstrate going above and beyond on behalf of their members.  The Founder of the US Credit Union system Edward Filene would, I believe, have welcomed this recognition of individuals and credit unions who have shown an extraordinary talent for helping their members.  Mr Filene spoke for us all when he said "The credit union movement, it is a great movement, worthy of great deeds, deserving of great loyalty".

Kevin Turmore, Managing Director of Unity Trust Bank said “These awards emphasise that our historic support for credit unions remains a long term commitment and a fundamental building block in our strategy of promoting key social initiatives such as tackling financial and social exclusion.  Adding, “I am delighted with the overwhelmingly positive response from the credit union movement and the many messages of support we have received from organisations as diverse as the Pearson Group plc through to the Big Issue Foundation.”
 
Ends

Notes to Editors:

Unity Trust Bank Contacts:  Geoff Pearson, Press Officer: 07711 412 880
Adrian Oldman, Head of Marketing and Communications: 0845 140 1000

About Unity Trust Bank

Unity Trust Bank ("Unity") is the leading provider of banking services to the social economy, trades unions and small to medium sized enterprises.
 
Unity was established in 1984.  The organisation has a deserved reputation for its knowledge of the particular requirements of its clients and the delivery of a first class portfolio of services.
 
Unity has an impressive track record of working in partnership with many organisations that campaign for progressive social change and develop new and innovative ways of improving civil society.  It also works in partnership with statutory bodies.

For more than 25 years we have worked with our credit union customers and trade bodies to develop initiatives to help make a positive and lasting difference.

Our commitment to credit unions is evidenced by the fact that almost 45% of all credit unions choose to bank with us, and a number of Unity staff are both members of and on the board of credit unions in their own right. We were proud when, in 1997, we joined with one of our trade union shareholders, the Bakers Food and Allied Workers Union, to help them form a credit union of their own. This successful credit union was the first trade union credit union in the UK to have a national common bond. Since then, we have advised a number of other trades unions such as the GMB, PCS and RMT on how to establish credit unions of their own. And, since it was launched in 1998, our Credit Union Development Fund has put more than £86,000 to the movement through grants to individual credit unions.

About the Awards

The National Credit Union Awards for Excellence from Unity Trust Bank are a new set of awards to recognise the outstanding contribution to credit unions.

Credit unions are co-operative financial institutions, owned and controlled by their members and operated for the purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to their members.

Credit unions differ from banks and other financial institutions in that the members who have accounts in the credit union own the credit union, electing their board of directors on the basis of one-person-one-vote, irrespective of the amount of money invested in the credit union.

Since July 2002, UK credit unions are regulated by the Financial Services Authority.

National Credit Union Awards for Excellence

These awards, to be known as the National Credit Union Awards for Excellence have been devised by Unity and modelled on similar schemes in the United States and Canada.

They are designed to champion and pay tribute to the extraordinary work of the countless unsung individuals who give their time and expertise to the credit union movement. The winners of the awards will be selected by an eminent panel of judges including Lord Janner, Lord Puttnam, Baroness Thornton, Juliet Davenport (Good Energy), Sir Stuart Etherington (NCVO), Nigel Fawcett HM Treasury), Steve Johnson (Advice UK), Professor Paul Palmer (CASS Business School) and Stephen Robertson, Group CEO of the Big Issue Foundation.

There will be six awards, recognising excellence in the areas of:
• marketing;
• community mobilisation;
• credit union education;
• fundraising;
• active partnerships; and
• an award for a single benefactor.

The winners will be announced at a ceremony in February 2011 hosted in the House of Lords and will receive a trophy to keep and £150.

Filene Award

The judges will choose an overall winner from one of these categories to be the recipient of the Filene Award for Social Entrepreneurship, named in honour of Edward Filene, one of the ‘founders and benefactors’ of the credit union movement. This award will be presented to the person or credit union who has done the most to promote the concept of credit unions, and the winner will receive a trophy and £250.

For further information about Unity Trust Bank please visit www.unity.co.uk.