December 13 2013 Latest news:
Wednesday, October 16, 2013
A second service point for the Exmouth credit union could soon open.
It could lead to Exmouth residents relying less on high-interest payday lenders.
The current Plough and Share Credit Union, which covers Devon, opens from 2pm to 4pm at Exmouth Town Hall on St Andrews Road.
Credit unions throughout the UK are being expanded thanks to a £35million cash boost.
The expansion project, by the Association of British Credit Unions, is set to include a second Exmouth service point.
Maureen Loman said: “There are ambitious targets to be achieved and it will mean much hard work for the many committed volunteers who run the 35 credit union service points all over Devon. We have our own in Exmouth and we hope to open another soon.”
Credit unions are an alternative to doorstep, payday and other high-cost lenders. With no shareholders to pay or corporations to maintain, all the profits come back to members.