Our twenty second Annual General Meeting (AGM) took place by Zoom on Saturday 24 April 2021. For those members who missed it, we have put together a summary of the important matters so that you can catch up any time. For an overview of the AGM and access to quick links to the Zoom recording and more information on the annual dividend read on.
A Very Successful Trading Year for GMBCU
This has been another outstanding year of hard work and significant change and we are proud to have supported our GMB community whilst delivering an excellent trading performance, despite a global pandemic.
The GMBCU Board remains very confident but not complacent about our future as there are many significant challenges ahead, even for successful Credit Unions.
Despite Covid GMBCU remains committed to its Business Plan for sustainable growth over the next three years. There are many valuable lessons to be learned from our experiences of operating in a pandemic which has certainly vindicated our previous commitment to developing a digital service.
GMBCU now has 7,540 active members and, as we head further into 2021, we will continue to work hard for you – always acting with your best interests at heart.
2020 some key numbers
- Loan income increased by 11.6%
- Loan balances increased by 27.6%
- Savings balances increased by 18.7%
- Reserves grew by 8.37%
- 1,584 new members which was a 31% increase on 2019.
- 8,000 faster payments made.
- 4,000 member loan agreements completed online via Nivo
For further details on how GMBCU has performed, read our 2020 Annual Report now available here.
The AGM agreed this year’s dividend at a rate of 0.60% on all GMBCU easy access savings accounts. The dividend was paid to member accounts on the 27 April 2021.
GMBCU members enjoy an exclusive, market-leading dividend rate which cannot be bettered elsewhere in the market place. It’s just one of the many ways we look out for our members and help to improve their financial wellbeing.
GMBCU Annual Report for year ending 31 December 2020
Interested in finding out more about our performance last year? As part of our commitment to transparency, we’ve published our Annual Report online.
Our Annual Report details all of the key stats that we use to measure our performance, alongside further information about what you can expect from us over the next few years. You can view it on our website here.
Thank you to everyone who submitted questions for our AGM. You can find answers to all these questions in the Q&A video below.
Topics covered in the Q&A session include the impact of Covid, the annual dividend, marketing and communications, our business plan, and our products. Watch the Q&A video here.
Watch the full AGM Video!
For those of you that could not make it on the day, don’t worry, we get it – plans change, especially in a pandemic! If you would like to catch up, you can watch the full AGM video here.
Digitally Driven and Empowered by Members
At GMBCU, we are constantly evolving to be the modern, ethical financial partner you need by your side. Over the past year, we’ve created new ways you can get the financial support you need at every stage in life.
We’re here to support you through life’s highs and lows with a fresh outlook and an honest approach to managing your finances digitally.
As always, we wanted to thank you for being a part of our brilliant community. Here’s to a better year for all.