A NEW credit union in Middleton St George will help villagers save for a rainy day while resisting the lure of payday lenders, according to a councillor.
A credit union in the village’s WI hall – close to St George’s Church of England Academy - will open for the first time on Wednesday, August 20, giving residents the opportunity to save and borrow money at affordable rates.
Ward councillor Doris Jones believes the facility – part of Darlington Credit Union - will be a valuable asset for residents of the village.
She said: “It’s a wonderful idea to base it in the WI hall where it can catch the eye of parents and young children.
“I’d like to see children on their way to school setting up small savings accounts to see their pocket money grow – it will teach them how to handle and save money and give them skills that will be very handy.
“It will teach them to save for what they want and show them that not everything comes off a plastic card.
“It’s going to be a valuable facility for the village, not just for those who want to borrow but those who want to save.
“It will also bring us a step closer to squashing companies like Wonga – we don’t want people in our village to be in a situation where they turn to places like Wonga.”
The credit union, staffed by two volunteers, will be open on Wednesday mornings between 9am and 11am.