Strapline : making the difference

Contact us

30a Binley Road
Coventry CV3 1JA
T 024 7663 3911 / F 024 7663 3299

Local Credit Unions

A credit union is a not-for-profit financial institution dedicated to serving the needs of its members.

Credit unions are made up of people with a common bond, something that draws them together, for example, where they live or where they work. They are governed by a Board of Directors, elected by and from its membership. 

When someone joins a credit union, they open a share account (savings). It is called a share account because the individual becomes part owner of the credit union.  Loans are given according to a member’s regular savings, not on the source or the amount of their income.

Since credit unions are not-for-profit organisations, any money made above the cost of operations is returned to the members in the form of a dividend.

Credit unions are able to offer reasonable interest rates on loans as much of the work is done by volunteers, keeping running costs to a minimum. Loans are either given according to a members regular savings or their ability to repay

Contact your local credit union to discuss current services available.

All credit unions are authorised and regulated by the Financial Services Authority, just like banks and building societies. They are members of the Financial Services Compensation Scheme to keep members’ money safe, and subscribe to the Financial Ombudsman Service to allow members some redress, should they have a complaint.

Credit Unions in Coventry & Warwickshire ‎   


 Bedworth & Bulkington Credit Union
 runs from Bedworth market on Monday, Tuesday and Friday am
 New Central Credit Union    
 41 Smithford Way,  Coventry, CV1 1FY
 Tel: 024 7663 3456 
 Coventry & District Credit Union
 The Park, 115 Holbrook Lane, Coventry, CV6 4DE
 Tel: 024 7699 8099
 Rugby Credit Union
 60 Regent Street, Rugby, CV21 2PS 
 Tel: 01788 577900

Coventry and Warwickshire Co-operative Development Agency Limited. Registered in England No. 1676622 Registered Office: 30a Binley Road, Coventry, CV3 1JA