A COMMUNITY bank in Stroud has celebrated its twentieth birthday.

Members, directors and other supports of Stroud Valleys Credit Union headed to the Marshall Rooms last week to look back on the credit union’s last twenty years as well as ahead to its financial future.

The SVCU is owned and controlled by its members, running on a volunteer basis with no outside shareholders.

It is not run for profit and any surplus money gets redistributed among members or put back into the credit union.

Started in 1998 after Stroud District Council held a public meeting to discuss the idea of credit union, the SVCU - initially called ‘Save ‘n’ Borrow’ - aimed to provide saving opportunities and low cost loans for people living or working in the Stroud area and Tetbury.

It particularly focused on helping people deal with emergencies and allowing them to get what they need without making their financial situation worse.

By 2005 it had 237 members and was granting a total of £28,940 in loans to 33 members.

Over the years the SVCU has used various locations in Stroud as offices and collection points, including the town’s library and Ebley Mill.

It now calls the Old Town Hall in the Shambles home - in January, Stroud District Council gave the credit union a £10,000 grant to help maintain its office.

To celebrate twenty years of the credit union, SVCU held a birthday party at the Marshall Rooms on Thursday, July 19.

It was attended by over 70 people - members, volunteers and representatives of organisations who have supported the credit union and helped it reach people who need its services.

Guests enjoyed a buffet, drink, and a set by singer Carter Burns.

Among the guests was one of SVCU’s original founders and indeed its first member: Stroud’s MP David Drew.

Aside from reminiscing about the early days, Mr Drew made the case for the SVCU and credit unions in general.

He also thanked SVCU’s volunteers for their dedication over the years.