Started as Phoenix Five Credit Union, which was first registered in July 2000 with its office in WATCH Ltd in Hillfields.
Patrick (Pat) Walsh and his wife Julia set up the credit union to alleviate poverty in their neighbourhood having witnessed the impact of credit unions in Ireland.
In 2001 there was a transfer of engagement from Coventry City Council Employees Credit Union to Phoenix Five. Coventry West CU came into being when Phoenix Five CU merged with Millennium CU and Radford CU in 2003.
At the same time the common bond was extended to cover the entire west side of Coventry that enabled people who were previously excluded access to the services of a credit union. By this time the Credit Union was based in St. Peter’s Centre, Hillfields.
In 2006 with the support of European funding a move was made into City Arcade. In 2010 the common bond was extended to cover the whole of Coventry and Warwickshire.
Early in 2012 a transfer of engagement took place from New Way Credit Union, based in Atherstone, North Warwickshire to Coventry West Credit Union. This merger allows people living in the rural area of North Warwickshire access to the services.
In 2012 the name was changed to New Central Credit Union Ltd.
The Credit Union celebrated the 20th anniversary during 2020 remaining open throughout the lock down period helping those members that need it most to help them get back on their feet.
Looking back over the last twenty years, members may acknowledge the commitment and the dedication of so many staff and volunteers who have guided the credit union to its current membership of over four thousand.
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