SISTERS Reevi and Romi Mitchell might be more interested in spending their pocket money than saving it, but they are among the youngest members of a Glasgow credit union which this year is celebrating its 30th anniversary.
The two and four-year-old siblings are the fourth generation of the Mitchell family to be part of the Bridgeton, Calton and Dalmarnock Credit Union after their grandfather Jackie took out membership on their behalf.
And for the 55-year-old publican he says he wouldn’t be where he is today if it wasn’t for the loan he was given when starting out in business. Now decades later, he is the proud owner of The Londoner bar in London Road.
“I wouldn’t be where I am today without the financial support from the credit union. It has been a life-changer for me,” said Mr Mitchell. “My mother Francis got myself and brothers and sisters involved and it changed everything for me. Thirty years ago a bank wouldn’t have considered giving me a loan so for people in this area of Glasgow it is vital.
“I must have borrowed around £50,000 over the years and the credit union has allowed me to achieve every step I’ve taken in business.”
Mr Mitchell began working on an ice cream round and wanted to buy his own van. He was able to secure an £8000 loan which he followed up with loans for a pub lease at the Scotsman bar. There was then the opportunity to buy his own pub, The Londoner.
“I think credit unions are a great asset to the community and for places like Bridgeton it is the lift people need,” he said.
For some, being able to call on the credit union for a loan has made dreams comes true. Over its 30-year history, the BCD Credit Union has loaned more than £50 million and has more than 6000 members – its assets are more than £6million.
Read more: Glasgow restaurateur reveals hand over to next generation as sons take the reins
As a plaque was unveiled by Glasgow Lord Provost Philip Braat at the Main Street site yesterday, it was recognition of how embedded the credit union is in the community. From savings to loans and mortgages to buying a house or helping someone become their own boss, the credit union has helped thousands of families and individuals. The credit union model is run on a not-for-profit ethos and in 2014 they were able to buy their own premises.
For manager George Redmond, who was involved in setting it up, the anniversary is a time to look back with pride while also looking at how they can develop their services.
“We think of ourselves as a community bank. Our economic impact to the community is around £3m per year and that is massive,” said Mr Redmond. “Around us bank branches are closing and where we are based now is a former bank premises. The credit union is in the heart of the community and it is about being there for everyone.
“While we’ve been there to help someone save for Christmas, our role has also been to look at how we support businesses in the community.” They now have nine members of staff.
“We kept going through lockdown and our staff were phoning up members to check on them and ask if they were ok and when people come in, our staff are there to greet them with a smile,” added Mr Redmond. “For some people the person they see in the credit union could be the only person they’ve spoken to that day and that personal touch is important. We have a rapport with our members and there are a few characters as well including one of our oldest members. At the age of 99 she stills comes in to see us.”
After a successful 30 years, the credit union is looking to the future and has a School Saver programme up and running and established links with local primary schools Sacred Heart and Dalmarnock primaries. They have a schools liaison officer to help young Super Savers learn about money and saving.
“Where we go next will depend on what young people want,” added Mr Redmond.
“We already have debit cards which can be used in stores and cash machines and have developed an app. It’s all about people choosing to join us over the mainstream banks and we need the financial services and systems in place while being able to offer competitive rates. I think we will develop in a completely different way with demands for higher loans and 24/7 access.”
Philip Braat congratulated the credit union on its 30th anniversary, adding: “It continues to provide a vital banking service to the communities of Bridgeton, Calton and Dalmarnock and latterly, in its history, the people of the East End and Townhead.
“It was an honour to be given the opportunity to unveil this plaque to mark this memorable anniversary and an important part of Glasgow’s social history.”
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel