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Credit Union set for launch

More than one million Britons are already members of a credit union

More than one million Britons are already members of a credit union

A not-for-profit Credit Union to give an alternative to high street banks will be launched this week.

Savers will be able to earn dividends from their deposits with the Northants Credit Union (NCU) at Towcester Recreation Ground, off Islington Road.

The NCU will provide savings and loans services and deposits can be made direct from a salary, benefits, standing order and PayPoint.

It will be launched by South Northants Council (SNC) and South Northants Homes (SNH) on Wednesday.

SNH assistant director for housing services Gill Higginson, said: “We are delighted the new Credit Union will give our customers a safe and secure way to budget and save and when necessary, borrow.

“It’s an excellent addition to our existing money and benefits advice services.”

Those about to be moved onto the Universal Credit system are advised it may be easier to manage their own finances.

But more than one million people in Britain are already members of a credit union and worldwide the movement has more than £1.5 trillion of assets.

A bouncy castle and a face painter will keep children busy at the launch while parents can learn about the scheme, from 3pm to 5pm.

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