You don’t get much for £1 these days.

Growing up in the 1970’s and 80’s £1 pocket money was a small fortune.  “One hundred penny chews, please” being a beloved phrase among excited children at the sweet shop, (though probably less well loved by the shopkeeper who had to count them out).

In those days it had enough value to be represented by a note, crisply folded in your wallet or purse, signifying its worth.  But in 1983 the Royal Mint downgraded it to a coin and it’s value has been in noticeable decline ever since.

Nowadays £1 doesn’t buy very much at all.  A chocolate bar maybe,  perhaps a bunch of daffodils or a small loaf of bread.  Penny chews rarely appear nowadays.

So it’s easy to reminisce about the good old days amid the relentless rising cost of living.  But don’t despair, we have some comforting news!  At Keep, £1 maintains it’s full value, just the same as it did when we began in 1988.

That’s because every member of Keep Credit Union has a £1 share in the business.  A £1 stake that really is put to good use.  It represents co-operation, participation, a share of the profits and an equal chance to influence how the credit union is run – a chance to shape it’s future and be a part of our work in providing ethical, fair and reliable financial service to your friends and colleagues.

This £1 share is something to be proud of – ownership.  A true representation of fairness and a co-operative spirit that enables people to come together and help each other in a community of like-minded individuals.  People who are keen to work together, not just in the workplace but also as part of a financial mutual,  offering simple, down-to-earth and easy to manage savings and loans, for everyone’s benefit not just a lucky few.

Together, we’re not only helping each other manage money wisely — we’re also making a real difference in the lives of vulnerable children across the UK.  This year, thanks to the continued support of our members, Keep Credit Union proudly donated over £500 to Action for Children.

So. while at face value it is still only £1 in your savings account,  we hope that all members of Keep recognise and celebrate with pride the significance of that £1 shareholding being worth so much more.