Leeds City Credit Union is a credit union in Leeds, England with more than 20,000 members. The organisation originated as a work-based credit union for employees of Leeds City Council. The employees formed what is known as the common bond. When the common bond was extended to all or live or work in the City of Leeds the name was changed.
In March 2009, the credit union sought out a £4 million bailout from the Government. An investigation into mismanagement at the credit union focused on the activities of former chief executive Sue Davenport. In August 2009, Sue Davenport was declared personally bankrupt.
Famous quotes containing the words city, credit and/or union:
“When the city gate catches fire, it’s the fish in the moat who suffer.”
—Chinese proverb.
“Gratitude among friends is like credit among tradesmen: it keeps business up, and maintains commerce. And we pay not because it is just to discharge our debts, but that we might the more easily find lenders on another occasion.”
—François, Duc De La Rochefoucauld (1613–1680)
“The man whose whole activity is diverted to inner meditation becomes insensible to all his surroundings. If he loves, it is not to give himself, to blend in fecund union with another being, but to meditate on his love. His passions are mere appearances, being sterile. They are dissipated in futile imaginings, producing nothing external to themselves.”
—Emile Durkheim (1858–1917)