Newington Credit Union

About

Newington Credit Union provides financial services to our members.

Story

The modern Credit Union Movement traces its origins to Germany and to Friedrich Wilhelm Raiffiesen, the Mayor of a small town in Southern Germany who in 1849 formed societies which later turned into Credit Unions.

The purpose of these Credit Unions was to enable people to help themselves in relieving debt and poverty.

Mission

From the beginning, the one thing that has not changed is the Credit Union Principle:

Not for profit, not for gain.
Equality, equity and mutual self-help.
Non-discrimination in race, religion, politics, sex and nationality.

Newington Credit Union is a co-operative. It was formed in 1967 by a group of people in the community, getting together to help themselves and others. The temporary premises were the Holy Family Boys Primary School and the Common Bond was the Holy Family Parish. Their goal was to help people to save regularly and borrow wisely.