Mayor joins Royston’s Black Squirrel Credit Union
- Credit: Archant
Royston’s mayor has become the 2,450th member of the town’s Black Squirrel Credit Union.
The team were delighted to welcome him this week and explain the benefits of joining, including affordable lending rates.
Black Squirrel Credit Union offers small loans of up to £1,000 at low rates, and the team says "it is a good alternative to credit cards and doorstep lenders as it is a much more affordable way to borrow money".
Borrowers also save as they repay loans and, in this way, build up a financial buffer for the future. Because it is entirely run by volunteers, any profit is returned to member savers in the form of an annual dividend.
The mayor, councillor Robert Inwood, said: "This is a great, ethical lending organisation and not enough people know about it."
The office is open every Monday at Royston Evangelical Church office in York Way, near Tesco Extra.