North East Warrington Credit Union
Volunteer led and working for the people of Warrington
NEWCU is a not-for-profit organisation which is owned and run by its members for its members. Membership is based on people having a ‘Common Bond’ such as living and/or working in a certain area.
Sound business practices
We operate in accordance with sound business practices. However, we are also a social and mutual organisation that takes into account our members’ needs, particularly those who are financially excluded.
As a credit union, we are founded on the values of self-help, responsibility and self-organisation. Our top priority is to serve members’ interests. Our members have a real say in how NEWCU operates as well as keeping the benefits in our community.
Caring and fair
We understand the needs of those who want to save or borrow small amounts and/or have a low income or do not have a record of borrowing. As a community co-operative, NEWCU can also appeal to those who want to benefit their neighbours.
1992: Training course for volunteers
In 1992, Ian Telfer (Warrington Borough Council Community Development Officer) instigated a training course for volunteers, the long term aim of which was the introduction of credit unions to Warrington.
1993: Poulton North Savings Club
As a result, Poulton North Savings Club was established in 1993
1994: Credit Union Status
The Savings Club prospered and in 1994 was granted the right to operate as a credit union by the Registrar of Friendly Societies. This was the recognition and vote of confidence the volunteers had been working hard to achieve. As a result, the credit union opened with some 180 members.
2000: Common Bond Area Extended
In March 2000, the credit union extended its Common Bond area to include the New Town area of Birchwood ward.
2002: Merger with Poplars’ Credit Union
The credit union subsequently aamalgaamated with Poplars’ credit union in 2002.
2002: Formation of NEWCU
With the merger and Common Bond area approved, the organisation became North East Warrington Credit Union, reflecting more completely the catchment area it now served. From the original 3 square miles, NEWCU now operated across 24 square miles with a resident population in the region of 60,000.
2014: NEWCU embraces Warrington
NEWCU’s Common Bond area now covers the whole of Warrington with a resident population of just over 200,000.