Was formed in 1989 as Norwich Community Cooperative Credit Union, to serve the organisations based at 38 Exchange Street, Norwich. Over time these developmental and environmental organisations changed or moved to other locations in the city.
The common bond was then expanded to Living or working in Norfolk or within the Norwich postcode area (NR1-NR35). In June 2013, it merged with Ketts Credit Union in Norwich, to provide an expanded and more cost-efficient service. In 2016 As well as its head office in the city, the new service point in Great Yarmouth joins seven other local service points which bring the credit union’s services closer to communities across the county. Norwich is to be one of the first credit unions to receive the FairLife Personal Loans Mark. This demonstrates to the public that loans are well designed in the interest of the consumer. It has been established to encourage customers to repay their debts, promote a competitive loan quote market and protect customers who find themselves in financial difficulties. FairLife Personal Loans Mark is a sign of trust, highlighting organisations that put the wellbeing of the public at the heart of their business. NCU President, was interviewed in the BBC studio February 2018 and discussed how joining a credit union helps members create saving habits and become financially responsible. He said: “One of the main fundamentals of a credit union is to teach its members to be responsible with borrowing and saving.” Since the news feature there has been an increase in applications received to join NCU and website hits have spiked since the credit unions news slot. It is interesting to note that Exchange Street was the home of the Norwich Mutual Loan Fund Society from 1907 to 1979 and that society was established in 1885, with the object of a common fund from which to supply loans to its members carrying the tradition of People Helping People.
Want to find out more?
Visit the Norwich Credit Union website, or get in touch with their team:
Telephone – 01603 764904 / 07504 433758
Email – office@norwichcreditunion.org.uk
Copyright British Credit Union Historical Society 2018 – All rights reserved
British Credit Union Historical Society 