Credit unions to merge creating “significant force” in the South West

Wyvern Savings & Loans (WSL) – founded in 1999 as First Dorset Credit Union – is to merge with Bristol Credit Union (BCU).

The move extends BCU’s reach across the South West and into Dorset.

It adds 3,000 members and £1.9m in deposits to BCU’s existing 16,000 members and £7m deposits, with a combined total of £12.5m in assets.

The newly merged businesses will operate under the Bristol Credit Union umbrella with a local identity in the Dorset region.

Members of both credit unions voted in favour of the merger at general meetings in September.

BCU received final investor approval when Bristol City Council cabinet members gave their backing for the move this month, subject to final due diligence.

It aims to increase lending, addressing WSL’s low loan/asset ratio.

The Bristol headquartered credit union has increased its loan book from £5.5m to £6.6m in the last year and by more than 50 per cent in the last two years.

In the 2018/2019 financial year, BCU helped over 3,350 people borrow £5.9m at affordable rates.

James Berry, CEO, said: “This move makes Bristol Credit Union a significant force in the South West of England.

“Now we’re in a recession, it’s more important than ever to reach those in financial need with fair and adaptable services to help our communities build back better.”

Tim Topper, Board member, WSL, said: “This move will allow us to widen our network and to increase our capacity in the Dorset and Somerset area to provide ethical loans and services to those who need them most.”

Based in Dorchester, WSL has served people across Dorset with ethical savings and loans through a network of volunteer supported community branches as well as the full-time main branch in Dorchester.

In 2015 it completed a merger with Camelot Credit Union, based in Yeovil, expanding its reach across Somerset.

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“Keep your chin up and take each day as it comes” says D-Day veteran

A D-Day veteran and resident at Great Oaks care home in Bournemouth has offered a positive message of hope for fellow residents and the nation living under lockdown.

Geoffrey Scovell, 97, laid a homemade poppy wreath in front of a crafted cenotaph at the care home in Poole Lane on Remembrance Sunday.

Each year, Geoffrey addresses his fellow residents to talk about his time in the Royal Navy and his experiences of keeping positive in the face of adversity.

Geoffrey served during the Second World War and took part in D-Day, where his ship operated as a landing boat headquarters.

Earlier this year, he received a special veteran’s lapel badge marking his years of service in defence of the country.

Asked what advice he’d give to residents facing time away from family, friends and loved ones during the current lockdown, Geoffrey said: “Keep your chin up and take each day as it comes.”

Residents from across Encore Care Homes’ four purpose-built homes took part in a host of crafts in recognition of Remembrance Day.

Lindsay Rees, Head of Care and Quality Assurance, said: “I am delighted by the efforts led by our wellbeing teams to support our residents with their Remembrance Day commemorations.

“It is particularly moving to see that Geoffrey is being enabled to continue to talk about his service in the Royal Navy and to share his positive message with his fellow residents and staff.”

Encore Care Homes include Fairmile Grange in Christchurch and Oakdale in Poole as well as Great Oaks.

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All-time record-breaking week for OnBuy.com

Poole-based OnBuy.com, the world’s fastest-growing online marketplace, has reported an all-time record-breaking week.

Nearly 1.5m users browsed the site, resulting in nearly £2.75m in sales, between November 1 and November 8.

Compared to the same period last year, users on the site increased by more than 600 per cent while sales revenue rose by 837 per cent.

The eCommerce site has just turned four years old.

Cas Paton, Founder and CEO, pictured left, said: “We aren’t seeing any signs of this incredible growth slowing.

“I started OnBuy with the vision that one day soon, the eCommerce monopoly would be broken, allowing for a fairer and more level playing field for all online sellers.

“Last week’s data demonstrates that we’re getting there.”

OnBuy is to launch into 42 countries next month as part of its plan to become the world’s first truly global marketplace, operating in over 140 countries by 2023.