A branch of the Black Squirrel Credit Union is set to open in Royston next week.
Sarah Dingley, district council member for Royston Heath, is opening the branch at the new office block of Royston Evangelical Church on Monday from 9.30am to 11.30am.
She said: “A credit union is owned by its members and so is not driven by profit-making. This means that dividend rates paid to savers are often preferable to high street bank equivalents. They are also able to give very low cost loans to their members.
“In addition to the financial benefits are the community benefits of knowing that the money is supporting our friends and neighbours. Neighbourhoods with credit unions tend to be better off, as the local economy retains cash as opposed to haemorrhaging it to banks, online credit companies or doorstep lenders.”
“We are very grateful to Royston Evangelical Church for the use of the premises for a peppercorn rent.”
The credit union will open every first and third Monday morning of every month. All are welcome. For more information go to www.bscu.org.uk or drop in.
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