Decision details

Subordinated Loans to Leeds Credit Union

Reference: D57425

Decision Maker: Chief Officer (Financial Services)

Is Key decision?: Yes

Is subject to call in?: Yes


Leeds City Council to provide subordinated loans totalling £500,000 to Leeds Credit Union


The Chief Officer Financial Services gave approval to;


Leeds City Council will provide Leeds Credit Union with two subordinated loans to a maximum of £250,000 each which are  repayable in 10 years and would be subject to the measures set out within this report.

Interest only is charged for the first 5 years and 1 day for each loan, with an agreed repayment schedule starting after this point based on an Equal Instalment of Principal for the remainder of the term until full repayment has been made.

Reason Key: Financial Impact>£500K;

Wards Affected: (All Wards);

Other reasons / organisations consulted

LCC Finance and Legal. Relevant Executive Members

Contact: Joanna Rowlands, Financial Inclusion Manager 0113 3789219 Email:

Publication date: 07/05/2024

Date of decision: 15/05/2024

Effective from: 23/05/2024

Accompanying Documents: