Council to invest in credit union

17:04 19 November 2012

Exmouth Town Council is set to invest £2,500 from its cash reserves in the Plough and Share credit union.

The move will cost the council around £50 a year in interest compared to a regular savings account, but members of the council’s finance committee decided that the benefits of investing in the credit union for the community outweighed the loss of interest, or concerns about the risk involved.

Deputy chairman of the committee, Councillor Trevor Cope, said: “[This investment] means we’re supporting an organisation dealing with the needy in our town.

“People are needing support and I think that credit unions are a way of assisting with that, and investing £2,500 may get more organisations interested in that.”

The committee’s decision will now need to be ratified by the full town council before it goes ahead.

0 comments

Other News Stories

17 minutes ago

The Budleigh Salterton Carnival Club fundraiser is fast approaching.

Read more
14:42

East Devon District Council (EDDC) has agreed to increase its share of council tax.

Read more

An amateur boxer from Budleigh Salterton has been cleared of breaking a Subway customer’s jaw after telling a jury he was acting in self-defence.

Read more
11:00

The Exmouth Business Awards 2017 – celebrating the achievements of local businesses – is coming up at Exmouth’s Ocean on Friday, May 19. Here we look back at a previous award winner, honoured for its professional service...

Read more

Police are keen to trace a road rage driver who allegedly assaulted an Exmouth teenager, grabbing him by the scruff of his neck as he walked home from school.

Read more
09:31

Work on upgrading Exmouth Town Hall will begin next week.

Read more
Yesterday, 12:30

A woman from Exmouth has been shortlisted for a national award for her blog, Caron Cares.

Read more
Yesterday, 11:10

Exmouth’s new M&S Foodhall will open its doors next month, the retailer has said.

Read more
Yesterday, 10:00

A cancer charity is searching for volunteers in East Devon to help ‘isolated’ people suffering with the disease.

Read more
Tue, 18:00

With NASA set to present new findings on exoplants, we’re asking the people of Devon if they believe there is life out there. Take part in our poll here.

Read more

Local Weather

Overcast

Overcast

max temp: 11°C

min temp: 2°C

Most Read News

Useful Links

Advertise in the Paper
Submit a Story
Subscriptions Order
Competitions
Photo Orders
Family notices
iwitness24
Google Plus
Facebook
Twitter
Reader Travel

Family Notices 24

Read Online

Image
Read the Exmouth Journal e-edition E-edition

Newsletter Sign Up

Sign up to receive our regular email newsletter

Local business directory

Exmouth's trusted business finder

HOT JOBS

Show Job Lists


Find planning applications