Derwent & Solway Housing Association, a member of Harvest Housing Group, is launching its first Credit Union in Northside next week, a community based saving and borrowing service organised by its members.
The Credit Union will help encourage residents to save on a regular basis and also offer access to cheap loans without the risk of the high interest that comes with high street and doorstep lenders.
The service will launch next Friday 2 February 10am – 11.30am at the new Northside Community Centre on Trinity Drive. And for any Northside residents joining the scheme on the day, Derwent & Solway will pay their membership fees.
Estelle Kent, Neighbourhood Regeneration Officer at D & S said:
“We primarily want to encourage our residents to save regularly and create a financial safety net for themselves. This is a hassle and risk free way of saving money and the loans that Credit Unions offer are far more cost effective then those offered by high street lenders.”
Children are also being invited to open a savings scheme and youngsters from Northside Primary School will be attending the launch to make their first deposit. There is no minimum savings contribution and everyone is welcome to join, with all children offered free membership.