Benarty and Lochgelly Credit Union
|Address: ||11 Benarty Square, Ballingry, Lochgelly KY5 8NR|
|Telephone: ||01592 868800|
|Website: ||not yet available.|
|Office||Monday||09:00 - 12:45|
|Tuesday||09:00 - 11:45|
|Wednesday||10:30 - 13:45|
|Thursday||18:00 - 20:30|
|Friday||16:00 - 18:45|
|Lochgelly Centre||Monday||09:15 - 10:45|
|Benarty Primary School||Wednesday||09:00 - 10:00|
|St. Patrick's Primary School, Lochgelly||Thursday||10:00 - 11:00|
|St. Bernard's Primary School, Ballingry||Friday||10:30 - 11:30|
|Lochgelly High School||Friday||10:00 - 10:30|
History and Information
Benarty & Lochgelly Credit Union is a "not for profit" financial co-operative owned and controlled by individual members resident within the Benarty & Lochgelly area of Central Fife. The aim of the organisation is to increase people's access to accessible savings and low-cost loans.
Benarty and Lochgelly Credit Union is the oldest in Fife. Since its inception in October 1989, the organisation has become well established within the ex-mining area of Benarty and Lochgelly. Their volunteers, staff and Directors are committed to providing a vital service to the community affected by high unemployment and multiple deprivation.
Benarty & Lochgelly is run and supported by a pool of committed volunteers from a variety of backgrounds who bring with them a range of key skills including management, leadership and finance. A number of these volunteers also serve as board members. They also employ 2 members of staff (one full-time equivalent).
There is little, or no economic investment in the area of B&LCU's common bond and many local people are either reliant on benefits or are from low-income households. Many are caught in a poverty trap or denied bank accounts or loans. Usury is a serious issue and individuals are often at considerable risk of falling prey to money-lenders or financial services offering loans at vastly inflated interest rates. B&LCU offer a local, unthreatening alternative to usury.
Common Bond (Who can join)
B&LCU's common bond area consists of the ex-mining villages of Ballingry, Lochore, Crosshill, Glencraig and Lochgelly, with a total population of approximately 17,000.
Their membership currently exceeds 2,000 and there is considerable scope for growth.