A NON-PROFT making cooperative which aims to combat poverty, promote community development and provide credit at reasonable rates has opened a new branch in Hailsham.
Hailsham Town Council is delighted to support East Sussex Credit Union by providing accommodation for the new Help Point at the Town Council offices in Market Street, through which, residents of Hailsham now have much more convenient access to ethical saving and low interest loans.
The union will be able to offer a basic loans and savings service to people living and working in Hailsham, with the aim of promoting financial prosperity and tackling financial exclusion in the community.
Many of its members want to borrow sums which are too small to be of interest to the big banks or may not have a bank account.
A share of all the profits made by East Sussex Credit Union is shared amongst its members in the form of a yearly dividend.
The Mayor, Cllr Jeff Bentley-Astor said the union will be an attractive alternative to high street banks for the financially excluded.
He said: “East Sussex Credit Union is owned and run by its members as a safe alternative to unscrupulous lenders who prey on the poor, including door-step loan sharks and payday loan outfits.
“They want to encourage the financially excluded who want to save ethically and do something that will benefit the community to join. I’m delighted to hear that the union has made its services available in Hailsham, and the Town Council will gladly help promote these services to residents.”
Town Clerk Liz Jones added: “It is crucial that local councils, as well as housing associations, employers and charities support their local Credit Union.
“After all, they do provide an ideal way for people to borrow small amounts of money at low rates of interest and save money effectively in these difficult times.”
“The presence of the East Sussex Credit Union in Hailsham offers a vital source of affordable credit in our community and the Town Council has been pleased to support it by providing suitable offices as part of the our effort to tackle financial exclusion in the town.”
The new Hailsham branch is open from 12 noon to 3pm every Wednesday. Everyone is welcome to join.
For further information on the benefits of joining East Sussex Credit Union, send an email to firstname.lastname@example.org