EASTBOURNE MP Stephen Lloyd was on hand to open the East Sussex Credit Unions’ latest help point in the town.
The facility is based in Shinewater and is the second one of its kind in the town.
The objective of the Credit Union is to encourage people to save with them and regular savers can then access loans of up to £5,000.
Mr Lloyd, who also became the first person at the help point to join the Credit Union there, said, “I am absolutely delighted to be one of the first members in Langney.
“In these challenging times where disposable income is dropping, local people saving with the Credit Union becomes ever more critical. Their loans will also help people who would otherwise be exploited by loan sharks.”
The Credit Union is operating out of the Shinewater Shaftsbury Centre Trust building in Milfoil Drive on Mondays between 12.30pm and 2.30pm.
East Sussex Credit Union manager Colin Holden said, “We are pleased to bring a Credit Union back into Langney with the help of both the council and the Shinewater Shaftsbury Trust who have provided our accommodation free of charge.
“It is now important that all residents start saving with the Credit Union so that when they need a loan we can provide it instead of high cost lenders.”
As an added incentive the National Anti-Loan Sharks Trading Standards Team have funded a £20 savings ‘bonus’ from funds recovered from convicted loan sharks for anyone who saves regularly between now and Christmas in the Eastbourne area.
The other help point is at the Council Contact Centre in Grove Road and is open on a Tuesday from 10am to 1pm.