Coventry and District Credit Union began as a savings club in 1964 in Willenhall and registered as a Credit Union in 1990. In 2001 then again in 2003 we merged with Stoke Aldermoor & Wood End Credit Union, who were previously called Little Acorn, which is now used as our symbol today. We currently have a citywide remit, extending to some areas outside Coventry. We have a close working relationship with CIAS as for the first 25 years they housed the Credit Union and offered support. We also belong to ABCUL which is our trade body. Coventry and District Credit Union is not-for-profit where all the money left over bills are paid is divided between the membership and paid as a dividend which usual range from 1% to 8%.
What is a Credit Union? A Credit Union is an organisation that offers its members a savings and low-cost loans service. Credit Unions provide a range of benefits including:
Low cost loans
Easy savings at your local saving points or direct for your bank by standing order.
Free insurance on savings and loans (subject to conditions).
Profit given back to members as a dividend on savings.
How are you different from banks and building societies? Credit Unions are different from banks and building societies because we only lend to members who are regular savers. How do I get a loan? Once you have shown that you can save regularly with the Credit Union, you can apply for a loan. If you are a regular saver with the Credit Union, you will almost certainly be offered a loan. How safe is my money? We are regulated by the PRA and FCA and your money is covered by the Share Protection Scheme. We have separate insurance to protect against theft or fraud. Credit Unions subscribe to the Financial Ombudsman Scheme which members can use if they have a complaint which cannot be resolved by their Credit Union. Can I register if I am under 18? To be a full member of the Credit Union you must be at least 16 years of age, and 18 to obtain a loan. Members under 16 are called junior members and can save and receive a dividend on their savings just like other members
Please call us on +44 24 76998099 +44 24 76998099 or use our contact form.
Coventry & District Credit Union
144 Walsgrave Road
Mon: 10.00am – 4.00pm
Tues: 10.00am – 4.00pm
Wed: 10.00am – 1.00pm
Thurs: 1.00pm – 4.00pm
Fri: 10.00am – 3.00pm