Tracey Speaks Out Supporting Credit Unions

Tracey was pleased to attend and speak at the Kent Savers Credit Union AGM in Aylesford this month. 

As both a proud member and a supporter of Kent Savers, Tracey expressed her support for Credit Unions, and how they can help people of all ages. Debt can often be largely associated with younger generations, however, Tracey has campaigned on issues concerning the retired generation and it is without doubt that credit unions have an important role to play for older people, who often find themselves financially excluded, as well as other generations. 

Tracey has lobbied the Government to do more to support credit unions in appealing to a broader range of society. The government have recently approved the Legislative Reform Order, effective from January 2012, which seeks to allow credit unions to more rigorously pursue investment and attract a wider range of members, including those on a lower income or unable to obtain credit elsewhere.  The Government’s commitment to making available up to £73m as part of a modernisation fund will help support credit unions upgrade their operations and develop ties with the Post Office.

It was announced at the AGM that a 3% dividend will be given to all savers of the credit union.

Tracey said: “Kent Savers is delivering important and dynamic ethical financial services across Kent and Medway. The 3% dividend declared for savers at the AGM here in Aylesford this week is a very significant indicator of the health and success of Kent Savers. There is so much to be gained by everyone – savers receive the best possible return and those who borrow are protected from the exploitation of so many of the other lenders. We all have much to gain from Kent Savers and personally I am very proud to be a member.”

Chief Officer John Fowler said: “A Credit Union is a membership organisation so it is our members who have made this very wise decision.  There are very few other ways in which anyone in Kent or Medway can save money, withdraw it whenever they wish but know that they will receive a very high dividend.  We are a unique organisation and we are here to deliver decent financial services to all the people of this county.”

Kent Savers provides financial services for all the people of Kent and Medway and delivers loans up to £10,000 at a very low rate of interest.  “The bottom line for borrowers is that they must be able to demonstrate to us that they will be able to pay back a loan we provide.  After all the money is not ours – it belongs to the people who save with us.  We are a ‘not-for-profit’ organisation and any surplus goes straight back to all our members in the form of a dividend.  We are very proud to be delivering an ethical and reasonable banking service,” says John Fowler.

For further information about the services offered by Kent Savers visit or contact John Fowler on 0333 321 9050.