The Pentecostal Credit Union Celebrates 35 Years And The Difference It Continues To Make To People’s Lives

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On 6th June The Pentecostal Credit Union will be holding a Gala dinner and gospel show at Wandsworth Civic Suite to celebrate the credit union’s 35th Anniversary.

PCU 35th Anniversary Celebration

On 6th June The Pentecostal Credit Union will be holding a Gala dinner and gospel show at Wandsworth Civic Suite to celebrate the credit union’s 35th Anniversary.

This year marks 35 years since the ‘birth’ of The Pentecostal Credit Union.

The Pentecostal Credit Union (PCU) formally came into being in 1980, originally operating from a tiny room in Balham. Sixteen people attended its first meeting in 1979; in the same year its first official payment was made – £1.20 for a Rule Book.

The PCU first emerged out of the struggles that many black Caribbean people (and others) arriving in the UK had to contend with in the 1950s, 60s and 70s. One of the main barriers they faced was the attitude of the banks and other legitimate lenders.

In those days, black and minority ethnic groups new to the UK were more likely to be denied access to finance and too often sought high-cost loans from loan companies, unscrupulous financial companies or loan sharks.

Aided by the dedication of those involved in its formation, the PCU quickly grew. Knowledge of the credit union and its existence as an ethical and trustworthy alternative to High Street financial organisations spread in churches throughout south London and membership increased rapidly.

Still to this day, membership is open to any individual, family member, church group or business that practices the Pentecostal faith.

Over the last 35 years The Pentecostal Credit Union, through the support, determination, and commitment from both the board and members has grown and flourished – driven by a strong set of religious beliefs and values, reflected and practiced through the Credit Union movement.

Today the Pentecostal Credit Union is now one of the largest Credit Unions in the UK, with 1,500 members and members’ funds running at over £7 million.

An important part of this work has been not only in lending to and supporting individuals of the Pentecostal faith, but also funding and lending to black majority Churches which has enabled them to grow and prosper and, most importantly, develop a range of community activities and support in local neighbourhoods.

On 6th June The Pentecostal Credit Union will be holding a Gala dinner and gospel show at Wandsworth Civic Suite to celebrate the credit union’s 35th Anniversary.

Special guests include top gospel artistes Lurine Cato, Muyiwa, The London Community Gospel Choir, as well as comedienne Angie La Mar with an inspirational keynote address from Bishop John Francis from Ruach City Church.

Thirty five years later and the two entities – the Pentecostal Church and the Credit Union movement – still fit well together, reflecting principles of fairness, helping one’s neighbours, justice, and working to improve the economic lives of one another.

For further information on the Gala Dinner and Gospel Show to celebrate The Pentecostal Credit Union’s 35th Anniversary please visit http://www.pcuuk.com, telephone 020 8673 2542 or email info(at)pcuuk(dot)com

Ends

Notes for Editors:
1.    The PCU was formed in 1980
2.    The PCU has more than 1500 members
3.    The PCU is one of the 10 largest Credit Unions in the UK
4.    The PCU Loan Book is £4.7 million
5.    The PCU has Assets of £10 million
6.    The PCU is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority

Press Release Contacts
Hugh Boatswain – (Interim) Chief Executive Officer
Tel: 020 8673 2542
Email: hugh.boatswain(at)pcuuk(dot)com

Shane Bowes - General Manager
Tel: 020 8673 2542
Email: shane.bowes(at)pcuuk(dot)com

Pentecostal Credit Union
http://www.pcuuk.com

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Shane Bowes - General Manager

Hugh Boatswain – (Interim) Chief Executive Officer
@PentecostalCU
since: 06/2014
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