Corporate Membership is better described as a Community Account as it is for organizations rather than individuals. Businesses, charities, sole traders, clubs, societies, social enterprises and voluntary groups in Coventry and Warwickshire can become Corporate Members of New Central Credit Union (both incorporated and unincorporated) They can then place sums on deposit with the credit union. Sums on deposit will attract the same dividend rate as individual members. By depositing funds with us rather than a high street bank you know that the organisations’ money is helping the local community. Deposits may be withdrawn upon request.
How to open a Community Account
- Complete the application form
- Provide verification of your organization i.e. letterhead
- Provide two or three acceptable items of identification for up to 4 signatories
- Drop into our Head Office
- Incorporated organizations can download the application form and submit to the credit union with the required documentation.
- For unincorporated organizations, a sample constitution can be downloaded and completed by the office holders to verify the organization’s existence.
- Once the account it open, changes of signatories can be made. Download the appropriate form and submit with the correct ID
FAQ’s – Community Account
- By cash or cheque* at the office (*cheques will take 14 days to clear)
- By bank standing order or direct debit
- By bank transfer
- You don’t need to give us notice to withdraw
- Applications for withdrawals must contain the required number of valid signatures corresponding with those currently held on file, i.e. two signatories on the account.
- Up to £300 in cash
- Up to £3000 in a cash cheque (i.d. required)
- Cheque made payable to the organization