New credit union is set to launch next month

First published in News

A NEW credit union aimed at help Tendring residents steer clear of loan sharks and payday loan companies is set to open next month.

The scheme will see the Colchester Credit Union, which has been running since 2002 and has 500 members, expand into the district.

Tendring Council hopes the facility will be up and running from April 3.

There will be access points at the housing reception area in Clacton Town Hall and at Jobcentre Plus in Dovercourt.

Council benefits boss Paul Honeywood said: “We are keen to get the credit union in operation as soon as possible and I am delighted that such speedy progress has been made.

“People will be able to borrow money at reasonable rates, receive advice on financial matters and will also be encouraged to save.”

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