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ESCU sponsors business award

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21 Jun 16

East Sussex Credit Union (ESCU) has sponsored an award for new businesses.

Last Friday saw the first Brighton and Hove Independent Newspaper Business Awards at the Amex Stadium in Brighton, with ESCU sponsoring the Start Up Business Award.

The category was so hotly contested that the honours were given jointly to two new businesses – The Float Spa and Nature Shop.

East Sussex Credit Union launched in East Brighton in 2004, expanding to cover the whole of Brighton and Hove in 2006 and then East Sussex in 2008. Anybody who lives or works in Brighton and Hove or East Sussex is eligible to join.

The credit union is run by volunteers and a small number of paid staff. It provides a vital source of affordable credit for the community, and 80% of its members are in households with an annual income of less than £15,000. The credit union works with its members to promote financial literacy by helping them budget more effectively, enabling them to participate in the running of the credit union, and by working closely with other organisations who provide financial literacy training and money advice services.

ESCU has grown over the years to serve 5,000 members who are saving over £2.2 million and borrowing more than £1.5 million at more affordable rates than are available from many other lenders. As well as savings and loans, ESCU offer other services to its members including prepaid debit cards and a payroll deduction scheme.

ESCU works with a range of local organisations including social landlords and businesses to build joined up approaches to tackling financial exclusion. By sponsoring the Start Up Business Award, ESCU is showing its commitment to supporting new local businesses to boost jobs and prosperity for people in the area.

ESCU Business Development Manager Nikki Plummer presented the award and said: “It’s great so see new businesses thriving in Brighton and Hove and this evening is a wonderful celebration of their hard work.”

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