Local Housing Association Frontis, a member of Harvest Housing Group, is giving the first 100 people to sign up to a new property in Birchwood £5, which they will deposit into an account with North East Warrington Credit Union.
The initiative is a community based saving and borrowing scheme in the area and Frontis hope to set up a collecting point in their office from September.
The Credit Union helps encourage residents to save on a regular basis and offers access to cheap loans without the risk of the high interest attached to high street and doorstep lenders.
Bernadette Bell, Neighbourhood Regeneration Officer at Frontis said:
‘We want primarily 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 than those offered by high street lenders.’
Frontis are offering the £5 incentive to help new residents build financial security for themselves as they settle into a new home.
For more information contact Bernadette Bell, Neighbourhood Regeneration Officer at Frontis, on 01925 856680.