Credit Union to aid town’s savers - Business

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Credit Union to aid town’s savers

Published on 18/08/2012 11:20

RESIDENTS in Horncastle will be offered a potential financial lifeline next week with the opening of branch of the Lincolnshire Credit Union, based at Stanhope Hall.

The Credit Union (Linc Up) gives people without a bank account a chance to save and take out a low interest loan - without having to turn to loan sharks who often charge massive interest rates.

The Stanhope Hall branch will be opened by Lincolnshire County Councillor Hugo  Marfleet who is executive councillor to council leader Martin Hall.

The Credit Union is owned and run by its members and is open to people who live and work within Lincolnshire.

It provides a platform for members to save small regular amounts. It also features a Christmas Savings Club and a Junior Savers scheme.

Members can apply for loans as soon as they join and acceptance is based on the ability to repay, rather than previous credit histories.

Free loan assurance is also available.

The launch will take place on Thursday, August 23 at 10am.

Anyone joining the scheme will  receive a free gift while  volunteers will be on hand to  explain the various benefits.

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