A brief history of Penwith Credit Union Limited
A group of volunteers came together in July 1997 following an initiative from the Cornwall Rural Community Council. A core committee was formed and a launch meeting was held in November 1997, which was attended by nearly 100 people. The level of local support spurred the group on and in January 1998 an inaugural meeting of a steering committee was held with 25 members.
Helped by the local Credit Union Development Worker, Mary McArthur, formal training commenced in April 1998. By March 1999, a Business Plan and Policies and Procedures Manual had been written and a lease was signed for office accommodation in Penzance. Following a visit from the Registry of Friendly Societies, notice was received of registration as from 30 June 1999 and Penwith Credit Union Limited was born. The first collection point was opened on Saturday 10 July 1999 in Penzance. The credit union was run at this time purely by volunteers.
From October 2000 to June 2001 Penwith Credit Union Limited piloted a project through the financial assistance of the Key Fund to employ two part time staff, to expand the Credit Unionís profile and run the office. Due to illness one member of staff left in April 2001.
The project period has enabled considerable changes to take place, for example, the opening of the Penzance based office for 5 days a week from 9am - 1pm.
In 2002 the remaining member of staff Ė Penny Cumming was given the huge task of applying for new funding. She became the Project Manager and with the help of a dedicated team (including personnel from Penwith District Council and others) she moved forward.
Funding from NRF Neighbourhood Renewal Fund and SRB Single Regeneration Budget was applied for and established.
In March 2003 a second team member was employed to develop and market the Credit Union to the people of Penwith.
We have a Junior savers club and a Christmas Savings Club and are about to start a Holiday Savings Club, a quarterly Newsletter and an up-to-date web site.
The Board of Directors are always busy as are the Supervisory Committee and the very hard working Credit Committee.
© Association of Cornish Credit Unions · Updated: 10 March 2006