A SAVINGS and loans group is celebrating a bumper year as it heads for another major milestone.

Nelson Community Credit Union is about to reach its 1,000-member milestone within weeks of reporting record results.

The 16th annual meeting heard membership had grown 12 per cent during the year, with an 11 per cent rise in savings.

And loans to members came close to the £500,000 mark for the first time - a seven per cent increase.

Total assets for the union, which offers low cost loans to regular savers, are about to top the £500,000 mark over the coming year.

"Divis" boosted savings, with the Credit Union offering a gross four-and-a-half per cent to members - well beyond any ordinary bank account interest rates.

And there was good news too for the Union's junior members. The youngsters collected a net bonus of five per cent on their savings accounts.

The annual meeting in the St John Southworth social centre, Nelson, was attended by around 200 members, with the Mayor of Pendle, Coun Jo Belbin, the principal guest.

She said: "I note your considerable progress and I hope your excellent community enterprise carries on to greater success."

The guest speaker was Neil Dawes, of the Federation of Small Businesses, Lancashire and Cumbria Credit Union.

The Credit Union's annual charity donation went to the NSPCC. Mrs Marlene Birtwell, secretary of the Burnley and Pendle branch, accepted a cheque for £250.

Burnley credit unions are holding their annual meetings over the coming weeks.

The dates are: February 23, Burnley Lane CU, at St John's Church, Ivy Street; March 3, Burnley West CU at Yatefield Club; March 12, Burnley Wood CU at Burnley Miners' Club, Plumbe Street. All start at 8pm.

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