News / great western credit union
Credit Union CEO celebrates raising £1.9m bond offer
In a testament to community support and financial acumen, a Bond Offer initiated by Great Western Credit Union (GWCU) has closed with a final tally excess of £1.9m.
The campaign, which aimed to help tens of thousands more people access affordable, fair and ethical credit across South West England over the next decade, received the support of 300 investors.
The campaign also received UK-wide support. The total value was made possible with the backing of Fair4All Finance, who matched investments pound-for-pound up to £1m.
The Bond Offer was hosted on the Ethex platform, which initially ran between April and July 2023 but reopened in September as GWCU looked to support even more people across the region.
The investors for the project will receive a target return of 6.5 per cent throughout the eight years of the Bond, however, any money invested is at risk.
James Berry, CEO of Great Western Credit Union, said: “The success of this Bond Offer shows the increased appetite for alternative finance during these difficult times.
“For almost 25 years, we have continued to support the region with community banking to help make a difference for our local people, businesses and economies.
“With this funding, we will be able to further grow our services to ensure that everyone in our region can access them as and when they need it.”
GWCU hopes the money raised during the Bond Offer will support the credit union’s growth over the coming years, allowing it to increase membership and services to more people in the region.
GWCU was founded in 1999 by a small group of volunteers in inner-city Bristol.
Main photo: Jon Craig
Read next:
- Leading credit union reopens successful Bond Offer to help combat cost of living crisis
- Using food to combat the cost-of-living crisis and isolation
- Great Western Credit Union joins the Better Business network
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