This is a text-only version of an article first published on Wednesday, 16 August 2017. Information shown on this page may no longer be current.
SINCE enlisting the support of Credit Union Solutions three years ago to provide its back office support, Oxfordshire Credit Union has been growing fast. OCU was featured in the Door in 2013, when Bishop Colin joined and the Archbishop of Canterbury, Justin Welby, hit the headlines.
The Archbishop was calling for churches to support their local Credit Unions as an ethical and alternative to payday lenders that send borrowers into increasing spirals of debt with their high interest rates. Graham Tomlin of Credit Union Solutions said that while OCU was not out to make a profit it was breaking even and was now expanding in membership and in its reach across Oxfordshire. As more local companies and public bodies sign up for payroll deduction - the latest is Oxford University Healthcare Trust - a growing number of people who live or work in Oxfordshire can save directly into their OCU account. Then when they need a loan they will be well placed to borrow from their own community of savers. While Graham's staff answer the phones and deal with day-to-day transactions, the board of directors of OCU have invested in a smart new website and spearheaded a marketing drive with new literature and regular newsletters.
;