History
In 1999 a meeting was held in Cinderford to start a Credit Union. From this meeting a steering group was formed and their aim was to get the proposed Forest of Dean Credit Union through the registration process.
The Forest of Dean District Council allocated a fund to help start a Credit Union and the Co-op granted funds for a computer.
The steering group used these monies for advertising, office equipment and funding the project worker.
The name Forest Savers Fund was then adopted as the trading name of the proposed Forest of Dean Credit Union.
The steering group attended training sessions and worked hard to complete a rule book and to produce banking processes that would satisfy the Financial Services Authority.
The Financial Services Authority (FSA) came to Coleford and questioned the steering group, who had by now been given specific jobs. The rule book and security processes were also checked.
July 2002 - FSA gave Forest Savers Fund the thumbs up.
August 2002 - Forest Savers Fund move into the new Head Office at Coleford Community Centre.
March 2003 - First loans - 3 of them.
April 2003 - Moved our Head Office from the Community Centre into a shop in the centre of Coleford.
November 2003 - Receive a grant from the Community Network to employ a development worker to start a junior savings scheme in local schools
2004 - Join the Gloucestershire Credit Union Forum where we meet regularly with the other three Credit Unions in Gloucestershire to discuss our development and ways we can work together to our mutual benefit.
June 2006 - Employ a development worker in Cinderford funded by the Tudor Trust and open a collection point in Freeminers Way.
January 2007 - Revise our loan policy to allow us to make loans to members based upon their ability to make the repayments rather than their savings record.
December 2007 - Reach our target of 80% of members' savings out on loan.