Credit union celebrates 30 years of supporting West Midlands people

Describing itself as an ethical, ‘not-for-profit’ financial co-operative, FAIRshare Credit Union is owned by and run for its members. 

It offers a money management system, even to those people who may not be able to access high street banking options.

It launched 30 years ago as the Wrekin Council Employees Credit Union, offering savings and loans to employees of Wrekin Council. 

On its first day, 155 members joined the credit union. Now, three decades on, it has welcomed over 10,000 members and extended its reach to include anyone who works or lives in Shropshire, Telford and Wrekin, South Staffordshire and The Wyre Forest.

FAIRshare CEO John Harrower said: "We are a financial cooperative that is member-run and member-owned, the members save together to provide a pool of money that can be loaned out - that's the basic premise of all credit unions.

"Generally, those we support through lending includes the under-banked: those who can't get high street banking, that struggle to access financial services, those on lower incomes, in debt and in poverty.

"But we have members from all tiers of the socio-economic scale, we need those people who can save a couple of thousand to lend to those who need more help.

"We want to turn people into savers, but we will always be here to help people financially."

To celebrate the milestone, John invited long-standing members, volunteers, staff (past and present) plus members from the communities FAIRshare serves to mark its 30th year anniversary at Meeting Point House in Southwater, Telford, on Wednesday (January 22).

Among those in attendance was Shrewsbury's deputy mayor Alex Wagner, who said: “It was wonderful to attend FAIRShare’s 30th birthday and hear more about the important role credit unions play across Shropshire, especially in a more challenging economic climate. Here’s to another 30 years!” 

For more information contact FAIRshare Credit Union on 01952 200200 or visit fairshare.uk.com.