The Teign Reach branch of Plough & Share Credit Union is looking to gain more members and has improved its accessibility with the addition of Teignbridge Council’s Forde House headquarters as place to make payments to savings and loans accounts.
The new service at the council offices was launched this month, but the facility doesn’t include withdrawals.
Teign Reach has been operating for two years, offering people living or working in Teignbridge the opportunity to access low cost savings and loans at local venues, such as libraries, community groups and doctors surgeries, even if they’ve had financial difficulties in the past.
It has a 12 per cent interest rate for loans, and it’s fully regulated, supported by the Teignbridge Council and other local organisations.
Teignbridge Council is planning a £5,000 grant to the credit union, following recommendations made by the council’s independent Credit Crunch Commission last year, and approved during the 2009 budget process.
Teign Reach is now hoping to raise awareness of the credit union and encourage more local people to join.
posted by Cptn
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