Labour Party The CWU has long been affiliated with the
Labour Party; for example
Alan Johnson, a previous General Secretary, later became a Labour
Member of Parliament (MP) and ultimately held a number of Cabinet posts including
Home Secretary. Since 2001, the CWU has donated over £9million to the Labour Party but relationships became strained over Labour plans to privatise
Royal Mail in 2007 and
Dave Ward, the CWU's representative on the
Labour Party's
National Executive Committee announced he was stepping down from this role because he believed it conflicted with the interests of union members. He was replaced by Andy Kerr. At the CWU Annual Conference 2008 there was much debate about the union's relationship with Labour. It was agreed, and remains union policy that a ballot would be held to cease funds to the party if privatisation of postal services took place. As the privatisation proposal from the
Labour government in 2009, the
Postal Services Bill, was defeated through the unions campaign, led by the left wing Labour loyalist and long term General Secretary Billy Hayes, with the support of Labour
backbenchers, affiliation has remained in place. Since the election of the
Conservative–Liberal Democrat coalition government the union has sought to re-define its relationship with the Labour Party. In July 2010 the union's National Executive Committee agreed to nominate and support
Ed Balls MP for Labour leader in the
2010 leadership ballot. In turn, Ed Balls MP supported the unions Keep The Post Public campaign in the summer of 2010 in opposition of the planned coalition government's intention to privatise Royal Mail. In September 2015, CWU endorsed
Jeremy Corbyn's
campaign in the
Labour Party leadership election. In August 2017, it was announced that the organisation will formally affiliate to
Momentum after its ruling executive voted unanimously in favour to join the organisation. General secretary Dave Ward, told the
New Statesman that "the general election showed the value of Momentum as part of the wider labour movement", and that the body, which emerged from Corbyn's 2015 leadership campaign, was now "a major political force in the UK", saying it had a "key role to play in securing a transformative Labour government".
1st Class Credit Union 1st Class Credit Union Limited was formed in 1992, as Glasgow District Postal Workers Credit Union, it became the Scottish Postal Workers Credit Union in 1998, before adopting the present name in 2007. A member of the
Association of British Credit Unions Limited, it is open to members and employees of the CWU. The
credit union is authorised by the
Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the PRA. Ultimately, like the banks and building societies, members’ savings are protected against
business failure by the
Financial Services Compensation Scheme. In 2016, it was awarded a large grant of £60,000 by the
Lloyds Banking Group Credit Union Development Fund to strengthen its capital asset ratio. ==Leadership==