Two local groups benefit from H&F Credit Union
H&F Credit Union, the borough’s very own not-for-profit bank, has received a cheque for £31,500 as part of the council’s commitment to helping local organisations. A second local group, The Irish Support and Advice Service (ISAS) organised social meetings and excursions for pensioners and provide advice on welfare, legal and health matters. An organisation that provides advice and support to people of Irish descent has also received a council grant of over £38,000.
Found on North End Road, the Credit Union was launched in December 2008, with the support of the council and is different to a bank because it is the credit union account holders that actually own
The Union now has over 1,200 members, has issued over £320,000 in loans and has grown savings of over £360,000. It has proved particularly popular with local savers and borrowers keen to avoid eye-popping interest rates from 'door step' lenders or falling into debt with illegal money lenders.
Anyone who lives or works in the borough can become a member of H&F Credit Union and benefit from a range of services it provides, such as saving schemes and affordable loans. All members’ money is guaranteed by the Financial Services Compensation Scheme so the credit union is a safe and ethical place to save and borrow
July 21, 2010