North East Warrington Credit Union goes into liquidation
A CREDIT syndicate serving Warrington residents has gone into voluntary liquidation.
Members have been informed of the closure of the North East Warrington Credit Union after more than 25 years.
Following the decision to close the business, which has an office on Cinnamon Lane in Fearnhead, administrators Leonard Curtis have been appointed to begin liquidation proceedings
The Financial Services Compensation Program covers the deposit of NEWCU members and plans to disburse funds to members within seven days of the announcement of the closure.
Angela Fishwick, managing director of neighboring credit union Unify, said: “We are very sad to hear of the closure of NEWCU, which has served its community since 1994.
“The loss of the credit union to the local community is heartbreaking for the residents who have come to rely on the services provided by the dedicated volunteers, who have worked tirelessly to keep the credit union open.
“On behalf of the Unify Board, I want to reassure members that the closure of NEWCU is in no way related to Unify Credit Union.”
NEWCU members can still access credit union services through Unify Credit Union, and anyone interested in finding out more should call 01942 245656 or visit unifycu.org
“Having recently extended our common bond to Warrington, we are determined to strengthen our presence in the city,” added Angela.
“We hope to work in partnership with Warrington Borough Council to bring a full-time presence to Warrington to ensure residents can still access ethical financial services.”
There was a second credit union in Warrington called Warrington Credit Union which merged with Unify Credit Union last October. There is no relationship with NEWCU and its members are unaffected by the announcement.