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Four Housing Group consists of:
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Released:
10/08/2009
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A new savings and loan scheme was launched to all residents within the Berwick Borough this morning.
The Berwick Savings and Loan scheme which is ran by Berwick Borough Housing and the Northumberland Credit Union provides local residents with the ability to save money and have access to cheap loans with free life assurance.
Regulated by the Financial Services Authority (FSA), a Credit Union is different to a bank or building society because it is a not-for-profit organisation which is owned and run by local people. All money that is saved within the Union is protected in the same way as money saved with a bank or building society.
Derek Bell, Independent Living Officer for Berwick Borough Housing said, “The association launched this scheme due to the current economic and financial climate to provide residents with an easier way to save or to access cheaper loans.
“If residents have spare money that they would like to save or alternatively feel that they would like to borrow money by taking out a cheap loan to cover debts or outstanding bills during these difficult times especially in the lead up to Christmas, the Union provides extremely competitive loans.”
The launch of the scheme comes at a time where cases have been reported in the press that door stop lending has increased and individuals and companies are taking advantage of peoples financial circumstances - particularly those who may be vulnerable.
Neil Brown, managing director of Berwick Borough Housing explained, “The Berwick Savings and Loan scheme offers customers convenient ways to pay in money through local shops that accept All pay.
“The scheme offers a convenient, responsible and competitive way for anyone, irrespective of their financial circumstances, to access savings and loan facilities without having to resort to door step lenders.”
Nic Best, Chair of the Northumberland Credit Union Ltd commented, “We are delighted to be working with Berwick Borough Housing in establishing the new savings and loan scheme and hope that local residents will benefit from this new service.”
The Independent Living Service at Berwick Borough Housing provides a full assessment of needs from special aids and adaptations to financial health checks. Information and advice is available to all Berwick Borough Housing residents.
All Berwick Borough Housing tenants will receive an information leaflet providing details of the scheme this week. For further information or for a membership form contact Derek Bell, Independent Living Officer or Berwick Borough Housing by calling free phone 08000 461 451. |
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