Introducing the Platinum Account With 2.5% Interest Rate

Introducing the Platinum Account With 2.5% Interest Rate

Hello again one and all!

Riverside Credit Union is in its 30th year now and we will be celebrating our birthday on 1st October, so this year is special for all members. We couldn’t have got here without you. And as I’m packing the bags for a family week away at the caravan in St Asaph, my thoughts turn to how far Riverside Credit Union has come.

We never asked the banks to leave our community, they chose to go. Through the collective action of a group of local people meeting up in a church hall 30 years ago, we have developed a professional community-based resource, with a multimillion pound turnover and millions of pounds out on loan to its members.  Those pioneers 30 years ago set out to address predatory lending and here’s how we’re continuing to do it:

First up, our next 50 new members will receive a bonus gift of £25, payable 12 weeks after a new savings account is opened. People can join up online or call in and see us. Make sure you let your friends know how to join up – you never know, they may treat you when they get their gift!

Secondly, we have some very exciting news. On the 1st of August we are opening a new savings account called “The Platinum Account” with a 2.5% interest rate – which is higher than many offers from the big-name banks on the high street. Investments must be between £10,000 and £30,000 and remain in the account for 12 months. So, if you’ve received a pension lump sum, redundancy payment or you’ve been saving hard, why not put your money into one of our accounts you could earn more in interest than many banks offer. This is not an introductory offer, this is a guaranteed return after 12 months.

All our services are regulated and approved by the Financial Services Authority and we are covered by the Financial Services Compensation Scheme, so why leave your hard-earned cash and savings in a lower return account? You can complete the Application Form here. Riverside Credit Union offers you a safe, ethical way to save and to help others in your local community.

I suppose we’ll raise a glass (or two) in October and pay tribute to all the members who have worked tirelessly to get to this place. The 30-year milestone is a fitting moment to take a bit of time out to reflect and take pride in our own resilience and persistence, while we enjoy a wedge of birthday cake.

Be assured that we haven’t lost sight of the original ethos and our collective actions has produced a strong company infrastructure, state of the art software and a new website.

We remain an authentic community asset, owned and controlled by the members and are proud of the ethical, democratic and accountable way we conduct our affairs. In fact, just because some of our members might not have a lot of money, we maintain that it’s as good as anybody else’s and our community is deserving of a first-class financial institution. So, there’ll be no fanfare on the 1st of October, but you’ll understand if we allow ourselves a modest little brag.

In line with our drive for continued improvement, we have now made it easier for you to use our services online. And despite my well-known aversion to social media (my life’s offline, for the most part) we now have lively social media streams making it easier for us to keep in touch with you.

Listening to members we know, you want and deserve a first-class service. So, make the most of your credit union, call in, view your account on-line, talk to staff members about your plans and how they can help, take advantage of our budgeting services, continue to suggest improvements, remain involved and spread the word. And don’t forget you spoke, we listened and we are now open late on Thursday till 6.00pm.

Anyway, it’s time to pack the car and get on our way, along with Bert the mischievous Patterdale terrier. I just hope he doesn’t ‘get acquainted’ with the ‘big dogs’ at the caravan park again… But that’s a whole different story!

Speak soon,

Mike Knight


Coming soon…

  • Brand new initiative to help young people get on track
  • Riverside Credit Union celebrates its 30th birthday