Thurrock now has its own Credit Union, with the local branch of the Essex Savers net Credit Union launched in Grays on Monday (13 December).
MP Jackie Doyle-Price joined Thurrock Council Leader, Cllr John Kent; portfolio holder for Community, Culture and Leisure, Cllr Lynn Worrall; and Alison Davies, Managing Director of Essex Savers at the Civic Offices for the launch.
Essex Savers is regulated by the Financial Services Authority and encourages people to save little and often through community-based credit unions — through direct payments and from their wages.
Thurrock Council is working with Essex Savers to encourage the development of more collection points across the borough — currently there is only one — and hopes to have more branches open in the next few weeks.
At present, the credit union is based at 134 Dock Road, Tilbury. It is open Tuesday and Fridays between 10am and 12pm.
Credit Unions are profit-sharing, non-political, financial co-operatives. They are owned and controlled by members, and exist to help members save and borrow in a fair ethical way.
They work by members’ savings accumulating to form a pot of money from which loans are offered to other members at low rates of interest.
Alison Davies appealed to residents to join with the MP who signed up at Monday’s event.
She said: “A credit union provides a safe place for savings. People can save as little as they can when they can, and benefit from knowing that access to money and advice is available in a timely fashion.”
Volunteers are also needed to help run collection points. Currently there is some interest in South Ockendon, Grays, Stanford and East Tilbury where community groups want to host collection points. If you would like to be a member, and help others save, please get in touch.
For more information about Essex Savers and Thurrock’s Credit Union contact 01245 496314 or 01375 413957 or log on to http://www.essexsavers.co.uk/info.html