Northamptonshire Credit Union

Northamptonshire Credit Union
Founded 2013 (1997)
Type Industrial and Provident Society
Location
  • 4th Floor, Town Centre House, 7–8 Mercers Row, Northampton NN1 2QL
Website northamptonshirecu.co.uk

Northamptonshire Credit Union Limited is a not-for-profit member-owned financial co-operative, based in Northampton and operating throughout the county in the English Midlands. The credit union has 2,205 members and assets in excess of £1m.

History

Northampton Borough Council Employees Credit Union was originally established in 1997, by the payroll department to help council workers. It became Northampton Credit Union in 2003, before adopting the present name in 2013.

In 2013, Golden Sheaf Credit Union, established in Kettering in 2001 and The Five Wells Credit Union, established in Wellingborough in 2001, transferred engagements to Northamptonshire Credit Union.

Activities

The members of a credit union are required to share a common bond. In the case of Northamptonshire Credit Union, membership is restricted to people residing or working in the county of Northamptonshire or in the District of Cherwell in neighbouring Oxfordshire.[1]

The credit union operates a one-stop shop at Northampton Guildhall[2] and a number of collection points in Northampton, Daventry, Kettering, Corby, Wellingborough, South Northamptonshire and Cherwell,[3] where it operates as the Cherwell Community Bank.[4]

The Changemaker Credit Union is a joint initiative between the credit union and University of Northampton, providing financial services to students and members of staff.[5]

A member of the Association of British Credit Unions Limited,[6] registered under the Industrial and Provident Societies Acts, Northamptonshire Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and PRA. Ultimately, like the banks and building societies, members' savings are protected against business failure by the Financial Services Compensation Scheme.[7]

See also

References

  1. ↑ About Us Northamptonshire Credit Union (retrieved 7 March 2015)
  2. ↑ New information point offering advice from Northampton Credit Union opens at the Guildhall Northampton Chronicle and Echo, 2 April 2014
  3. ↑ Rivers, David Community scheme aims to keep Kidlington people from pay-day lenders The Oxford Times, 3 March 2015
  4. ↑ Cherwell Community Bank Northamptonshire Credit Union (retrieved 26 July 2015)
  5. ↑ Changemaker Credit Union The University of Northampton (retrieved 7 March 2015)
  6. ↑ Credit unions in membership of ABCUL Association of British Credit Unions (retrieved 1 November 2014)
  7. ↑ Credit Union Guide Financial Services Compensation Scheme (retrieved 2 April 2015)
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