A service to help families combat poverty and gain credit at reasonable rates has moved to Seaford.
The East Sussex Credit Union, a local cooperative which also aims to promote community development, has been able to move to the town thanks to some very welcome voluntary support from Seaford residents.
The launch event was held at the Waves Centre on July 3 and was officially opened by MP Maria Caulfield.
Dignitaries attended an opening event including Cllr Dave Argent, Mayor of Seaford, Revd Trevor Smyth and members of the community who will be volunteering their time for the project.
The Credit Union offers a loans and savings service to people living and working in East Sussex, with the aim of promoting financial prosperity and also tackling financial exclusion in the community.
Every investor or borrower becomes a member of the Credit Union and a share of any profits made is divided amongst its members.
Many residents are already signing up and are elated by the Credit Union’s decision to promote its services to Seaford residents.
One of the people who has already signed up, but didn’t want to be named, said “The Credit Union has helped to significantly relieve the stress in my life.
“With my savings account and the option to borrow, I feel like I have a safety net.”
Another added, “I’ve been having my Child Benefit paid directly into my savings account at the Credit Union – it has helped me to save this money for when the children need new clothes and shoes.
“I am also better able to manage expensive purchases and times of year.”
Ann Hickey, general manager of the East Sussex Credit Union, added, “We are delighted to be able to continue our work in Seaford.
“This is an important year for some of the most financially vulnerable residents, with the introduction of welfare reforms.
“Our team in East Sussex will be working to promote the credit union in the area, giving guidance on money advice issues, and preparing people for the implementation of universal credit.”
The Seaford Information Point will be open between 2pm and 4pm every Monday at Waves Centre, 8 Church Street, Seaford, BN25 1HG.
Everyone is welcome to the centre.
The Credit Union is encouraging people to go along and speak to volunteers about their financial situation and see if there are any ways the service can help them and their family.
Resident do not need to make an appointment to speak with a volunteer.
For further information on the benefits of joining East Sussex Credit Union email firstname.lastname@example.org or visit www.eastsussexcu.org.uk.
The opening of the new centre in Seaford comes after much press coverage about the danger of high interest pay-day loans, which seem to offer those in financial difficult a quick-fix solution. However, many have found debts spiral out of control with interest rates over 1,000% APR.
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