Council to invest in credit union

PUBLISHED: 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

Yesterday, 14:42

‘Be alert, not alarmed’ is the message coming from police in the wake of the attack in Westminster yesterday (Wednesday)

Read more
Yesterday, 14:24

Behind the lens with Exmouth based photographer - Brian Frost.

Read more
Yesterday, 12:47

Landlords are being urged to come forward if they have family-sized properties that could be used to house vulnerable Syrian refugees.

Read more
Yesterday, 12:30

Exmouth’s new M&S Foodhall is opening its doors to customers next week.

Read more
Yesterday, 09:41

An Exmouth fire crew was called out to free a child locked in a car in Budleigh Salterton yesterday.

Read more
Yesterday, 09:27

Devon and Somerset Trading Standards has warned businesses to be on the lookout for a tool sharpening scam.

Read more
Wed, 15:55

On this week in 1944.

Read more
Wed, 15:04

An Exeter based ecology business has discovered a rare species of bat roosting in East Devon.

Read more
Wed, 14:13

The results of a survey of visitors to Exmouth, carried out last summer, have been published.

Read more
Wed, 12:30

A developer, whose controversial application to build a house in Budleigh Salterton was refused, has labelled residents in the town as ‘moaners’.

Read more

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 13°C

min temp: 6°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