- - New Way Credit Union - -

The Credit Union for North Warwickshire

New Way Credit Union is a community based "not for profit" savings and loans co-operative helping members help themselves by developing good savings habits and by offering low cost affordable loans to members based upon their ability to pay and upon their savings history with the Credit Union - regular savers with the Credit Union (regardless of the amount saved) are given priority when loans are considered by the Credit Committee which is made up of volunteers from our members.

Credit Union loans are granted to members based upon their ability to meet the repayments - we are not like many lenders - we believe in lending responsibly and if we feel that we should refer you to one of our associates such as the Citizens Advice Bureau (situated just opposite our offices)

Savers currently receive a dividend	Borrowers pay 1% or 2% per month on Loans	You can pay into your account by Standing Order
All members have an equal vote at the Annual General Meeting	Volunteers receive free training	Savers receive free life assurance (subject to conditions)
Borrowers have their loans repaid in full in the event of their death (subject to conditions)	Savings balances are protected by a national compensation scheme	Loans of up to £5,000 and a term of up to 5 years available (subject to conditions)

How do I join?

Visit us at: 158 Long Street, Atherstone, N Warks, CV9 1AE on a Thursday or Friday morning.
Alternatively call at the N Warks Borough Council offices on a Tuesday or Wednesday morning.
Some schools also run children's savings schemes with us.

For more information ring 01827-718851
email: enquiries@nwcu.co.uk

How safe is my money?

Very!

New Way Credit Union is regulated by the Financial Services Authority who are the government body set up to regulate and control all of the U K Financial Services Sector - this means we are regulated by the same people who look after the Banks, Building Societies and Insurance Companies.

Your savings are insured against loss and protected by a compensation scheme which would repay every penny of your savings up to the first £35,000 and 90% of anything above

How do I have my say?

Each year in February we hold an annual general meeting to which you will receive an invitation.

At that meeting the past year is reviewed and all members present have a vote to decide who will act as Directors for the following year and who will sit on the loan committee (The Credit Committee) and the internal audit committee (The Supervisory Committee)