Redbridge council funds new credit union
- Credit: PA Wire/Press Association Images
A new credit union aiming to help residents and businesses in Redbridge save and borrow responsibly was launched on Tuesday.
Liberty Credit Union, which already operates in Havering and Barking and Dagenham, will be extending its services to Redbridge.
The credit union is a regulated, not for profit organisation which provides alternative savings and loan services.
Cllr Keith Prince, leader of the council and Cabinet member for finance, said, “We’re delighted to have a credit union up and running in Redbridge to be able to give local people, businesses and organisations the chance to access competitive savings accounts and affordable loans.
“We know that times have been tough the last few years and through the grant we have approved of £50,000, the Council has taken another important step to increase financial help and support.”
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Ryland Perrin, from Liberty Credit Union, said, “We’re honoured that we have been selected to deliver credit union services across Redbridge. We will be working with the Council and community partners to deliver responsive affordable financial services to residents over the coming months”.
Membership to the union costs £1. For more information visit the www.redbridge.gov.uk or visit Liberty Credit Union at www.lcu.org.uk.
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