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Credit Union in the Spotlight

People can find out more about a credit union at the next meeting of the Riverside Community Area Forum.

Members will be given a presentation about the First for Money credit union, formerly known as Bridges Community Bank.

First for Money is a not-for-profit organisation which provides financial services such as savings and loan facilities for people mainly in South Tyneside and Sunderland.

Currently 5,000 people are members of Money First, of which 1,700 are junior members who save through school savings schemes.

The credit union offers loans at varying rates and, while they do check everyone's credit history, it makes a less demanding assessment than other lenders, particularly loan sharks and provident loans.

Councillor Michael Clare, Chair of the CAF, said: "In the current economic climate, it is important that residents are aware of the financial options open to them.

"This looks set to be a very informative presentation. I would encourage people to come along and find out more."

The CAF meeting will be held on 19 September at 10am in the Reception Room of South Shields Town Hall. All are welcome.

 

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