Who we are
We are a not for profit Credit Union based in Newport engaged in the promotion and encouragement of regular savings and prudent borrowing by its members, as defined in the Credit Unions Act 1979.
We were established in 1999 and our common bond area (where our membership comes from) is Newport in south Wales. This means we only accept membership (with some specific exceptions) for people that live or work in Newport.
Credit Unions are a significant part of the financial fabric of the UK. Added together Credit Unions are responsible for circa £3.85bn of assets and around 2million members. They can be found in many towns and cities across the UK operating in a wide variety of places, from Church Halls, to state of the art offices.
We are a co-operative not for profit Credit Union run along well established lines. We have a volunteer board, paid staff and a number of unpaid volunteers. Any surplus funds generated that are approved by the Board are passed back to the members as dividends. We have a small, active and vibrant board that has an active role in overseeing the running of the Union. We now seek additional trustees that are able to contribute for at least three years to our future development.
The board meets monthly (mostly online) where we review the financials, activity against targets, approve expenditure and discuss items of significance. The board sets the direction and tone of our member focused organisation and the General Manager is responsible for delivering the boards strategic direction.
We are looking for individuals who hold Newport close to their heart and want to play a part in continuing the fantastic role that the Credit Union has had in ensuring members have a safe place to deposit their savings and take out loans.
We welcome individuals with a variety of experiences and those new to the role of a Trustee are especially welcome. We have extensive training programmes available via our partner ABCUL that will enable you to understand how we operate and gain valuable experience in areas such as governance, business planning, compliance, IT, security and how a financial institution is run.
If you bring enthusiasm, commitment and a wish to help others, then we should have a conversation. Expertise is always welcome but with passion and commitment and a knowledge of areas such as HR/Finance/Banking/IT/Co-operative movement we can start to chat. Students to Retirees, we all have something significant to share and contribute – we are keen to promote financial literacy with our local schools. Come join us, send an email to Len Casley if this sparks an interest and we promise a warm response.