The South Yorkshire Credit Union is considered one of the best run credit unions in the UK offering a whole range of banking and financial services to people and organisations. These include loans, saving accounts and credit agreements on white goods, for example fridges and washing machines.
The organisation is working with the UK Cabinet Office on electronic identity services for those who cannot get bank accounts but who need to access their benefits, pensions and other payments which are paid electronically by relevant government departments.
A new type of digital user
The credit union manages the budgets and accounts of those who are often financially challenged. However, a large majority of its 40,000 customers are also digital users - they have mobile phones. Having this ability to contact its customers almost in real time allows the credit union to build new and better services.
For example, through tech innovation, the credit union is also looking at other ways to make their customers’ money go further. This includes bulk purchase of utilities such as electricity and gas, broadband and discount deals with local shops and traders.
Rebranding of the South Yorkshire Credit Union
The South Yorkshire Credit Union is currently being rebranded as 'My Living' Credit Union because of the organisation’s expansion into other regions across Yorkshire.