Credit
to the community
Do
you want to save money regularly? Do you need a small loan?
Then Pitsmoor Credit Union can help you!
If you
are over eighteen, live in Burngreave and have £1 you
can become a member. After 10 weeks of saving regularly you
will be able to borrow money, up to three times the amount
you have saved. Interest is charged at 12% per year and unlike
many bank loans you can borrow a small amount and there are
no hidden charges or penalties for early repayments. Loans
are made by cheque which can be cashed straight away at the
Co-operative Bank in town if you haven’t got your own
bank account.
The Credit
Union has been serving Burngreave for over 7 years now. Long
standing members, Len and Hazel, have been there since the
early days, “It’s been run by dedicated volunteers
and we’ve been putting in lots of effort over the last
few months. We hope that soon we will have New Deal funded
workers who can support the work volunteers do.”
The new
chairperson, Caroline Harris, explained, “this is a
community owned enterprise run by local people. While big
banks have moved out of the area, we will stay at the heart
of the community providing a service for people, many of whom
don’t have bank accounts.”
Treasurer,
Annie Blindell, who has volunteered for the project for three
years, told the Messenger, “We have over 150 members
with £45,000 in savings, but, if we can increase that
number, the loans could become cheaper. Any money the Credit
Union makes goes back into the organisation and benefits the
people who save with us.”
To find
out more contact Pitsmoor Credit Union office on 273 8555,
or come to a collection point. Click on the 'leaflet' in the
right hand column for more information.
Collection points are at Christ Church Community Hall,
Nottingham Street Entrance 11am–12noon Thursdays
and at the Pitsmoor Credit Union Office also
at Christ Church Mondays 7–8pm
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