Help set up a Credit Union for this area.

Rita Baugh has sent me the following

"Credit unions are useful for people who need small loans (say to replace a car or washing machine), and they are also ideal for people who cannot open bank accounts - for example because their income is too small or irregular. They may also be a more ethical alternative to the big banks for those who do not wish to endorse them. More detailed information about what credit unions are and do and who runs them and who they may benefit can be found here: http://www.southlakelandcu.org.uk/slcu/"

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On this web site you can download an information leaflet which tells you:

"Credit Unions are community savings and loans cooperatives. They offer members the chance to save regularly and to access affordable, low interest loans

linked to the value of their savings.

All Credit Unions are owned and controlled by their members, and are run by and for local people, not for profit. Any surplus is paid out as a dividend to savers or retained to develop Credit Union services.

All savings are protected by the Financial Services Compensation Scheme in the same way as savings in banks and building societies."

In order to establish a Credit Union a minimum of 1000 pledges of support need to be collected from across South Lakeland to prove that there is enough support .

So far 165 people from throughout South Lakeland have already completed individual pledges of support. 

Thus if you think this is a good idea you need to encourage family, friends, neighbours and work colleagues to complete pledges of support. They can do this by completing an online pledge at www.southlakelandcu.org.uk

If you need a paper copy of the pledge form please get them to call Gordon Henry on (01900) 607 532 and he will send one out and a reply paid envelope.

Personally I was helped greatly by a Credit Union in the States at a time when banks would not help because I was new to the country. Because the Credit Union knew my background they were willing to give me a loan which enabled me to find a little more cash for a deposit on a much needed house - something then - in the 60s - that was a wise thing to do!