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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 Union’s 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 – 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.
Today in 2004 we have nearly 500 members and good working office, plus collection
points in St Ives, St Just, Hayle and satellite posts in Treneere in Penzance
and The Island Centre St Ives.
We have a Junior savers club and a Christmas Savings Club and about to start
a Holiday Savings Club a quarterly Newsletter and an up-to-date website.
The Board of Directors are always busy as are the Supervisory Committee and
the very hard working Credit Committee.
We gave our first dividend at the AGM in January of 1% to all our adult members
(who were with us in September 2003)
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| C Dell | J Lynch | J Millet | M Lawrence |
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| M Paul | P Coldicott | R Lewis | S Harradine |
