Plans to create South Lakeland credit union gathers pace (From The Westmorland Gazette)
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Plans to create South Lakeland credit union gathers pace
5:19pm Thursday 2nd August 2012 in News
PLANS to create South Lakeland’s first credit union are gathering pace.
Organisers have received 700 of the 1,000 pledges of support they hope to acheive to set up the alternative saving and loans scheme.
In a final push, copies of the pledge will be sent to residents living in Kendal and surrounding villages throughout August.
The credit union would allow people to save small amounts regularly and borrow less with lower interest rates than high street banks.
Colin Henderson, vice chairman of the Credit Union Study Group, said: “We feel this is a realistic and affordable alternative to doorstep lending, which offers lower interest rates and a structured repayment plan.”
The credit union will have an office base in Kendal and drop-in sessions throughout the community.
As the credit union grows, organisers hope to offer more outreach sessions.
The new service will offer a range of debt management advice and opportunities to save from as little as 50 pence per week.
Visit www.southlakelandcu.org.uk for more details.
