Dear Members,
On Friday 15th November, we gathered at the St Aidan’s Parish Centre Club in Huyton for Enterprise Credit Union’s 36th Annual General Meeting. It was a momentous occasion to reflect on another year of growth, community success, and the positive impact we’ve achieved together.
We were thrilled to welcome over 1,450 members virtually, making this our most attended AGM yet. Thank you to everyone who joined us online and to those who attended in person at St Aidan’s – your participation is what makes this event truly special. This AGM also marked another milestone in how we engage with you, as we continued our commitment to embracing technology by live-streaming the proceedings via our mobile app.
The AGM began with a warm welcome from Tony Denny, our Chair, who reflected on the incredible progress we’ve made together. Tony set the tone for the meeting by emphasising the importance of collaboration and engagement:
“Our Annual General Meeting is not just about governance; it’s about collaboration. It’s about ensuring our members have a voice in the decisions that impact them, and it’s about shaping a future where community and financial resilience go hand in hand.” — Tony Denny, Chair
Tony went on to reflect on the continued growth of the credit union:
“At Enterprise Credit Union, we’re committed to supporting our members for the long haul. With £45 million in assets and 24,000 members, we continue to grow and expand, strengthening the financial resilience of our communities. Our success is built on people helping people, and that’s what drives everything we do.” — Tony Denny, Chair
One of the standout moments of the evening was the announcement of this year’s 2.5% dividend, totalling a fantastic £743,000! This dividend has now been applied to all eligible accounts. It’s our way of saying THANK YOU for your ongoing trust and support, ensuring our continued success as a cooperative.
The AGM also showcased several important highlights:
– Financial Health: We now hold £45 million in assets, with £36 million in loans and £9 million in reserves, reflecting a strong and sustainable financial foundation.
– Dividend: The 2.5% dividend was approved, providing a return to our members, and reinforcing our financial stability.
– New Developments: In 2024, we’ll be expanding our services with new branches, pop-up facilities, and introducing innovative products, including the Member Protection Plan, to help strengthen our community’s financial resilience.
A truly special moment at the AGM was the recognition of Ken and Anne McGlashan for their exceptional service and dedication to the credit union over the years. While Ken spoke on behalf of both, the appreciation for their contributions was evident. Ken shared his thoughts on the importance of community and the cooperative spirit that continues to drive our work:
“Serving on the board of Enterprise Credit Union has been one of the most rewarding experiences of my life. The true strength of our organisation lies in its people. We are a cooperative, and that means putting our members first—always. It’s an honour to see how far we’ve come and how much more we can achieve together.” — Ken McGlashan, Board Member
Ken and Anne’s leadership has played a pivotal role in guiding the credit union through significant growth and change. Their tireless commitment continues to inspire us all. Reflecting on his journey, Ken added:
“It has been an incredible journey, and I’m proud to have worked alongside so many passionate individuals. The heart of Enterprise Credit Union is its members, and seeing how far we’ve come together has been deeply fulfilling. I’m confident the union will continue to thrive as we move into the future.” — Ken McGlashan, Board Member
As we look to the future, we’re excited about the continued growth and new initiatives in the year ahead. With further expansion of our services, including new products and services, we remain dedicated to ensuring the financial well-being of our members.
A heartfelt thank you to everyone who attended, both in person and online. Your support is the foundation of our success, and we’re excited to continue building on this momentum in the years to come.
Please take a moment to read our Annual Report, which provides further insights into our achievements and financial performance. We look forward to another year of growth, impact, and shared success with all of you.
Thank you for being a vital part of our credit union.
ECU Team 😊