Plan for credit union approved
By Jo Deeks on Thursday, 10th August 2000.
A CREDIT union is to be established in Haverhill to give people the chance to save and borrow money without paying interest.
Officers and a steering committee have been formed following a study of the project’s feasibility. They will meet for the first time next week.
The union, which will be officially launched on September 7, will aim to help people put aside small amounts for saving on a regular basis.
After 13 weeks with the scheme, members can apply for loans if necessary, though they will be encouraged to continue saving at the same time.
The credit union has been offered free temporary premises for six months in the Burton Centre.
Volunteers will staff the office, which will be open every week on Thursday mornings.
The scheme, one of about 850 now established in the country, will operate under the auspices of Rainbow Savers Anglia Credit Union, in Bury St Edmunds.
Anne Boyd, the health visitor representative on the board, said: “It will be a co-operative union that will be owned by the members who join up.
“We hope to encourage regular saving and, when families get into short-term problems, they may be able to come to us rather than get involved with loan sharks.”
Anyone interested in helping set up the programme before its launch next month can contact Ms Boyd on (01440) 766028.
Officers and a steering committee have been formed following a study of the project’s feasibility. They will meet for the first time next week.
The union, which will be officially launched on September 7, will aim to help people put aside small amounts for saving on a regular basis.
After 13 weeks with the scheme, members can apply for loans if necessary, though they will be encouraged to continue saving at the same time.
The credit union has been offered free temporary premises for six months in the Burton Centre.
Volunteers will staff the office, which will be open every week on Thursday mornings.
The scheme, one of about 850 now established in the country, will operate under the auspices of Rainbow Savers Anglia Credit Union, in Bury St Edmunds.
Anne Boyd, the health visitor representative on the board, said: “It will be a co-operative union that will be owned by the members who join up.
“We hope to encourage regular saving and, when families get into short-term problems, they may be able to come to us rather than get involved with loan sharks.”
Anyone interested in helping set up the programme before its launch next month can contact Ms Boyd on (01440) 766028.
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