New Central Credit Union hits record in lending of £1million
22 Jun 18
This week, New Central Credit Union has achieved the magnificent milestone of reaching £1 million in lending in the last 12 months.
First founded in July 2000 as Phoenix Five Credit Union, they have now extended their common bond to the whole of Coventry and Warwickshire. Now serving over 3000 members the credit union has achieved a record in lending with an increase of 62% in the past year and has helped members save more than ever before.
Thanks to support of Coventry City Council, New Central Credit Union moved into a much larger office which has significantly improved services of the credit union and has helped it become much more accessible for members.
Speaking about their record in lending, General Manager Alastair Wilkinson says “To reach one million in lending in 12 months is a significant milestone in the development of the credit union and shows there continued to be both a need and demand for the services that a credit union can offer to the community.
New Central have also shared that they have also helped members save over £500,000 to their accounts. Alastair believes that the figure of savings reflects on the teachings credit unions to its members by learning to save as you borrow, he says: “This milestone reflects the very strong support that New Central has shown to our members. We provide an excellent service and also give personal care so that those who borrow learn to save as well. We take pride when we see members who are interested in saving ethically”.