Wednesday, 8 September 2010

Setting Up A Local Credit Union in Barrow and District – We Need You To Help

What are Credit Unions?
Credit Unions are community savings and loans cooperatives. They offer members the chance to save regularly and to access great value, low interest loans linked to the value of their savings.

Who are Credit Unions For?
Credit unions are open to everyone who lives or work in the areas that they serve regardless of your level of personal household income. If you want to benefit from saving on a regular basis and being able to borrow money at a low interest rate then join your local credit union today.

What are the Community Benefits of Credit Unions?
Credit Unions are financial cooperatives owned and controlled by their members and are run by and for local people. Any financial surpluses from a credit union go towards developing the credit union and / or are returned to local members through a dividend. The only shareholders are therefore the local members who use its services. Credit unions are therefore local, ethical and of benefit to local residents and the wider local community that the money is retained within.

Credit unions offer an alternative to getting into financial difficulties from taking out high interest loans from legal doorstep lenders or illegal loan sharks.

We are now in the process of trying to identify, establish, work with and support a group of community volunteers in Barrow and District. We are currently seeking volunteers with any of the following skills and attributes:-
Accountancy and bookkeeping
Business Planning
Committee and group work skills
Funding Applications and Fundraising
Information and Communication Technology
Marketing and Promotions
Personnel Issues
Policies and Procedures
Research and Survey Work
However any volunteer with commitment and enthusiasm is very welcome.

If you are interested in helping to set up a credit union in Barrow and District please get in touch for more information.

Gordon Henry, Cumbria Credit Unions Development Coordinator Tel: 01900) 607532 or 07515 061964 or email:

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