Harvest Money


Northamptonshire Credit Union Limited, trading as Harvest Money, is a not-for-profit member-owned financial co-operative, based in Northampton and operating throughout the county in the English Midlands. It has 2,205 members and assets in excess of £1m.

History

Northampton Borough Council Employees Credit Union was originally established in 1997, by the payroll department to help council workers. It became Northampton Credit Union in 2003, before adopting the present name in 2013. In 2017, the credit union rebranded as Harvest Money.
In 2013, Golden Sheaf Credit Union, established in Kettering in 2001 and The Five Wells Credit Union, established in Wellingborough in 2001, transferred engagements to Northamptonshire Credit Union.
In 2015, the credit union was awarded a grant of £67,500 by the Lloyds Banking Group Credit Union Development Fund to increase its capital asset ratio to support growth in membership and assets.
Most recently, Weston Favell and District Credit Union, established in Northampton in 1980, transferred engagements in 2016, followed by Blackbird Leys Credit Union, established in Oxford in 1994, in 2017.

Activities

The members of a credit union are required to share a common bond. In the case of Northamptonshire Credit Union, membership is restricted to people residing or working in the county of Northamptonshire or the surrounding districts of Milton Keynes, Bedford, Central Bedfordshire, Cherwell, the City of Oxford, Vale of White Horse and South Oxfordshire.
The credit union operates a one-stop shop at Northampton Guildhall and a number of collection points, including Daventry, Kettering, Corby, Wellingborough, South Northamptonshire and Cherwell, where it formerly operated as the Cherwell Community Bank.
The Changemaker Credit Union is a joint initiative between the credit union and University of Northampton, providing financial services to students and members of staff.
A member of the Association of British Credit Unions Limited, registered under the Industrial and Provident Societies Acts, Northamptonshire Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and PRA. Ultimately, like the banks and building societies, members' savings are protected against business failure by the Financial Services Compensation Scheme.