SOCIAL housing tenants struggling to make ends meet are being given a chance to turnaround their finances.
Community bank Credit Union is opening in Market Rasen and Brookenby to help people facing financial problems and those looking for an ethical way to save.
Credit Union’s business development manager for Market Rasen, Linda Burden, said: “We really want to help people in social housing who are more likely to be targeted by high interest doorstep lenders. These people need us the most – especially in this tough financial climate.
Credit Union is a social enterprise – a non-profit-making bank which gives any surplus back to the community after paying its running costs. It gives budgeting support to people who are struggling and find it difficult to save.
Linda said: “The financial crisis has made a lot of people think about where they put their money and many have decided they want to save ethically, knowing their money will stay in the community.”
Three volunteers have been trained up to work in Market Rasen and there will be a team of eight volunteers in Brookenby.
Linda is hoping Market Rasen’s Credit Union will be embedded into the community this time next year.
She said: “We’re a community bank. Everything we make stays in the community. All our members are our shareholders and all have an equal say in how we’re run. Credit Union will be at Arena Cafe, Queen Street, Market Rasen every Tuesday from 10am to 12pm and at Brookenby Community Centre every Tuesday and Saturday from 10am to 12pm.