Labour's Heathfied campaigners organised a community meeting on the Edgar Rd Estate, to explain to residents how Credit Unions operate, and provide a much better alternative to pay day loan companies.
Credit Unions are community alternatives to savings accounts and crucially, as well as paying in, people can borrow from them without paying crippling charges. All over the country communities have begun to organise local Credit Unions as alternatives to banks and payday loan companies.
Graham Tomlinson from Thames Bank, described how Credit Unions worked, explaining the support available for those going on to Universal Credit. He said residents of Edgar Rd have already been in contact with Thames Bank to get help and debt advice.
Local Labour Campaigner Jan Kilsby commented
"Many people in the Borough are facing the day to day worry of not making ends meet and finding themselves with growing debt bills."
"Too many people who live in this area are struggling to survive. People get into debt unexpectedly, often because of ill health or just bad luck. Pay day loans, often make the situations worse, Credit Unions are an ethical way of helping people get back on their feet."