A CREDIT union has launched a new current account to offer its members modern banking facilities.

Launching Monday May 20, Darlington Credit Union is releasing its Go Account which offers three different levels of current account products.

The community savings and loans provider is hoping the launch of its new product will serve to modernise credit unions and relieve the pressure for those who struggle banking with high street banks.

Tony Brockley, CEO of Darlington Credit Union, said: “It is the same that you would get with any high street banking. It’s a current account with a debit card with is online and digital banking elements.

“This is a big one for us, because we haven’t been able to give our members anything quite like this before. We’re also hoping to attract new members because there are a lot of people out there that, when you ask them, they are sick of the bank that they are in.

“So now we’re putting out the challenge. If you really are sick of the bank you are with and you want to come somewhere with a current account that is ethical this is your opportunity."

The Go Account will offer three products, Go Pay, Go Flex and Go Total.

Go Pay allows customers to make transactions at an ATM for £1.99 per month and a transaction fee, Go Flex allows six free ATM transactions for a monthly payment of £6 and Go Total allowed unlimited free transactions for £14 per month.

Mr Brockley added the credit union is also offering a solution for those who are struggling under an overdraft.

He said: "There has been a lot of publicity recently about overdrafts and the cost of them.

"The banks offer an overdraft, people will use the overdraft but then after a while the bank stops making offers and people still have the overdraft to pay off.

“What we are saying is that if people come onto our current account, we will also offer a loan to repay the overdraft off. The payments that they will pay on the loan will be less than what they are paying for the overdraft, so the incentive is that within a couple of years they will actually clear it and see an end to it."

"We have been serving the community in Darlington for ten years now and we feel this is a good reward for our existing members.

“Because we have the three products we can discuss with them and see which one fits best for each individual."

For more information about the products call 01325 529829 or visit darlingtoncreditunion.co.uk