BDCU AGM 2024 – A Recap.

We were delighted to welcome 32 attendees – both virtually and in person – to our 30th annual general meeting (AGM) recently.

An annual assembly of our executives, directors, stakeholders and members this AGM covered the year ending September 30th, 2023, and took place on Friday, January 26th, at Bradford City Hall.

Beginning with a speech from the Lord Mayor of Bradford, Councillor Gerry Barker, the event gave attendees the opportunity to learn about BDCU’s key achievements over the last 12 months, as well as our plans for the coming year.

The Lord Mayor said: “Back in 1993, Bradford Council had the vision to establish this credit union, providing a haven for staff savings and access to low-cost loans to tackle the economic challenges of the time.

“Over the years, BDCU has grown significantly, from serving council staff to embracing the wider community and beyond. The cost-of-living crisis has tested your directors, management and staff who have responded by offering crucial support and affordable financial services through innovative, nationally-recognised projects like the £200 micro-loan for those with the poorest credit scores.

“As of the end of September 2023, membership has grown yet again and is due to reach 10,000 in early 2024, a huge milestone for any credit union. With around £7 million in savings, and almost £3 million in loans, this growth is a testament to your commitment to financial inclusivity and community development.

“Thank you for your continued support, and here’s to many more years of making a difference together.”

The event continued with a speech from our CEO, Katie Hurrell, who highlighted some of BDCU’s recent achievements and the milestones we have reached over the last year, such as:

  • securing funding from the West Yorkshire Combined Authority (WYCA) as part of an Emergency Cost of Living Fund. Thanks to the funding, we were able to help more than 300 members afford school uniforms, pay their winter utility bills and afford Christmas;
  • increasing the amount we have lent to our members by 39%, taking our loan book to over £3m – the first time it has grown in more than three years;
  • maintaining our level of members’ savings at circa £7m, thanks to the launch of several new schemes, including the popular UniformSavers and FoodSavers projects;
  • celebrating our 30th anniversary alongside some of our closest partners and stakeholders;
  • being shortlisted for the Best Credit Union in The North award at The Consumer Awards;

CEO Hurrell also revealed that BDCU has been investing in the development of the credit union to ensure it continues to reach as many people as possible, before promising to continue developing its products and services to meet the needs of its almost 10,000 members.

The AGM also gave attendees the chance to vote on a number of matters, such as:

  • Voting to accept audited accounts and financial statement for 2022/2023;
  • Voting to accept the appointment of new auditors for the coming year;
  • Voting to accept the proposed changes to the rulebook
  • Voting to accept the board’s recommendation to elect and re-elect directors.

All matters were approved following voting.

This year’s AGM marked the end of a successful period for our credit union, with much to celebrate and even more to look forward to. We’d like to sincerely thank everyone who took part and here’s to a prosperous next 12 months!