netCUDA Introduction

            net Credit Union Development Agency Ltd, netCUDA, a not for profit company set up in 1999, facilitates the set up and growth of credit unions throughout the East of England and East London, working primarily where none existed, as well as assisting those already established.

            Credit Unions are vital in overcoming the problems of financial exclusion and have the additional benefits of encouraging economic regeneration and greater social cohesion.

            The “netCUDA model” for developing credit unions enables universal access to services using the latest technology, while achieving early sustainability.  More than a credit union, it offers wider financial services according to the needs of a community, including access to money advice, financial education and a CDFI for businesses (social enterprises and start ups).  “netCUDA model” includes a specially designed ‘back office’ IT system, which it is presently piloting with Essex Savers net Credit Union Ltd, a county-wide credit union set up by netCUDA.