Financial co-operative pays first-ever dividend

News PNL-150122-170602001
News PNL-150122-170602001

A financial co-operative running across Buckinghamshire has paid its first dividend to savers.

The Swan Credit Union has been operating for eight years, and runs from Milton Keynes Community Bank, Aylesbury Vale Community Bank and Thame Community Bank.

Over the last year it has had a significant increase in membership, savings and loans and it is now earning enough to reward members for their support, with a pay out equivalent to one per cent of their average balance during the last financial year.

The dividend will be officially announced at the AGM on February 19.