The Stevenage Credit Union held its grand opening of the new Swingate House collection point on the 4th June this year. This gives access for its members to a collection point in an accessible point in the centre of the town, right next to the local Citizens Advice Bureau.
The opening of this collection point is part of a project funded by SoStevenage, through the Stevenage Citizens Advice Bureau and Credit Union. The aim of the project is to increase members in the credit union, and raise awareness of the benefits that it brings to the town. There is also a lot of concern from the CAB about the rise of payday lenders in the town and the amount of clients it sees with complex debt issues coming through its doors.
The credit union is a community led organisation which is safe and secure, and allows for a savings account as well as easy access to low interest loans for its members. Any money made on loans through interest, stays in the community, and simply goes back to allowing further low cost loans for the members. The hope is that by raising awareness of the Credit Union, people will avoid going to illegal lenders and payday loan companies, and utilise the Credit Union instead. This is why the CAB is pleased to have the credit union right next door.
The collection point was opened by the current Mayor, Councillor Jack Pickersgill MA, MSc, and there was also a short film shown all about the credit union and the benefits it brings, along with a light buffet. There was also media coverage about the event from Jack FM and the Advertiser, who were both keen to highlight the importance of the credit union and the high levels of debt in the town, and local organisations, including the Irish Network, Stevenage Homes, and some local councillors, among many others, were there to show their support.
If you would like to get involved or would like more information, please get in touch via the contact information below;