NEWCU is a not-for-profit local community based financial co-operative owned by its members. It is a mutual organisation, run entirely by volunteers and founded on the values of self-help, responsibility and self-organisation. We are committed to providing equitable and fair savings and loans to all members of our local community. Why not come and talk to us about volunteering over tea and biscuits
The origins of NEWCU date back to 1992 when a training course for volunteers was instigated to introduce them into the concept and running of a credit union. From this seed NEWCU has grown to having over 2,500 members with its Common Bond area extending to cover the whole of the Borough of Warrington. Membership is based on people living and working in Warrington.
Founded on the values of self-help, responsibility and self-organisation, our top priority is to serve members' interests, so as a credit union every member has a real say in how we operate as well as keeping the benefits in our community. We understand the needs of those who want to save or borrow small amounts and/or do not have a record of borrowing.
We work hard to ensure your savings are working hard for you. A competitive dividend is paid annually in November on all savings kept within the Credit Union financial year from the 1st October of the previous year to 30th September of the current year.
Standard Loan (savings based)
At NEWCU we give you the credit for taking the responsible route to borrowing. Although we do not carry out credit checks, before you can get a Standard Loan, you need to be an authorised member making regular savings payments for a minimum 10 out of thirteen weeks. You can then borrow up to the amount in your savings account plus £125 or £200 pounds, whichever is the larger. Once this has successfully been repaid, you may then borrow up to 3 times the amount in your savings up to a maximum of £3,000. If that is successfully repaid then the lending limit increases to £10,000; over £10,000 requires NEWCU Board approval.
Helping Hand Loan
NEWCU can also help you say no to payday lenders with our Helping Hand Loan. This is a very short term loan which lasts a minimum of 1 month but can be spread over a period of 6 months. If you live or work in Warrington, have a permanent job of at least 25 hours / week and can provide the required documentation for proof of job, income, identity and home address, you would be eligible for a Helping Hand loan of up to £500. Typically, a £500 Helping Hand Loan taken over 6 months would cost £62.50 interest.
t: 01925 492688 e: firstname.lastname@example.org w: www.newcu.org.uk
Head Office: NEWCU, Telfer House, 2 Cinnamon Lane, Fearnhead, Warrington WA2 0BD
Authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and Prudential Regulation Authority.