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The Plough and Share Credit Union are opening in Ilfracombe and are holding a launch and awareness day at the Ilfracombe Centre on Monday 4th March 2013, from 10 am until 2 pm. The Credit Union will be based at the Ilfracombe Centre and will be open every Tuesday from 11 am until 1 pm. They will be able to offer low cost affordable loans and safe savings. They are regulated by the FSA and savings are protected by the Financial Services Compensation Scheme.
Credit Unions are not-for-profit organisations which are owned by their members. Members save in a communal fund from which they can borrow at low cost. Any surplus at the end of the financial year can go back to members in the form of a dividend.
If you would like to consider supporting this, which is part of the actions taking place in out town to help alleviate poverty issues, and in particular people having to resort to Payday Loans and doorstep lenders, please come find out more your local Credit Union, or see John Saul who is part of the volunteer team.