"It has been such a tough couple of years for everyone and we wanted to show that we are supporting peoples financial well-being as we ease our way out of the pandemic."
Christine Moore, Chief Executive
Credit Unions across Greater Manchester held an awareness campaign to start a conversation with members of the public about their financial wellbeing.
The campaign, called ‘How’s Your Balance?’ saw credit union staff and their members post photos of themselves on social media balancing various items on their heads - from teddies to kettles - to raise awareness of how they can help people stabilise their bank balance by starting to build a small savings pot or with an affordable loan.
Chief executive of Manchester Credit Union, Christine Moore, said: “It has been such a tough couple of years for everyone and we wanted to show that we are supporting people’s financial wellbeing as we ease our way out of the pandemic. If your financial wellbeing does not feel stable it can knock other areas of your life off balance.
“It is a serious topic but we also wanted to have a bit of fun while doing it, which is why we joined forces with other credit unions across Greater Manchester to take on the ‘How is your balance?’ challenge.
“It was great to see so many people get involved and we are encouraged that engagement to our Facebook account went up by 121%, and since the campaign, we have had a record number of new people joining up and becoming members. Credit unions are often described as one of the best kept secrets in England, compared to other countries across the world where there is much more awareness of the benefits of credit unions. The campaign coincided with International Credit Union Day.
“Following on from the success of the campaign we aim to increase our membership to support more people in our community with our ethical saving and borrowing options. Credit Unions are here to help improve the financial wellbeing of the people of Greater Manchester.”
More than 65,000 people are members of credit unions across Greater Manchester. 80% of people who borrow from Greater Manchester credit unions spend the money locally and 70% of members continue to save regularly after repaying a credit union loan. Greater Manchester Credit Unions also have £20 million available to lend and save borrowers £13 million in charges and interest.
Visit the website to find out how you can improve your balance: www.manchestercreditunion.co.uk