We have joined forces with seven community credit unions across Greater Manchester to launch a COVID-19 recovery plan. The package includes £15m in financial support to help people who live in the several regions of Greater Manchester, by offering fair and accessible loans.
The consortium, known as Sound Pound, wants to show communities across Greater Manchester that there is light at the end of the tunnel and that their local community credit union is there to support them at this time of uncertainty and financial hardship.
The Sound Pound consortium is made up of Manchester Credit Union, South Manchester Credit Union, Stockport Credit Union, Cash Box Credit Union (Tameside), Unify Credit Union (Wigan), HOOT Credit Union (Bolton), Salford Credit Union and Oldham Credit Union. All eight have signed up to the initiative in order to provide support to their local communities.
Sheenagh Young, our CEO and vice-chair of Sound Pound says
“We are all passing through such uncertain times right now and finances are a struggle for many in our communities. Here at South Manchester Credit Union we ask local residents to turn to us for financial support and coaching. We have a proven track record in helping people to stabilise their finances. Our friendly, human approach is especially appreciated during financial hardship.”
David Batten, CEO of HOOT Credit Union, and chair of Sound Pound says
“All of the Greater Manchester Community Credit Unions have come together to launch this joint recovery plan which has a clear objective – to rebuild our communities, support our people and lend responsibly. This will also provide a vital boost to our local economy.”
Sheenagh adds, “Covid is highlighting the power of communities and belonging to your local credit union is an inclusive, positive way to work together for a brighter future.”
Why credit unions?
South Manchester Credit Union offers support to local people whatever their needs are. Whether they are a single parent struggling to make ends meet, are looking for a deposit for their first home or need some help with managing their finances and putting some money away. Credit unions are also there to support local businesses and we offer a range of support services to help them with the increasing pressures they are currently experiencing.
Our Sound Pound recovery plan has been created to rebuild communities, support people and lend responsibly and it will play a crucial role in driving our local economy forward, helping all of us to build back better from the impacts being felt by our communities across Greater Manchester due to the Covid-19 pandemic.