Credit union services for Great Yarmouth
21 Feb 17
Norwich Credit Union has opened a new service point in Great Yarmouth.
The need to provide an additional facility to help people save and manage their finances was recognised through Great Yarmouth Borough Council’s Neighbourhoods that Work Project, which aims to build stronger, better connected, more resilient communities.
The credit union – which trades as Norfolk Save & Borrow across the county – will now run a Great Yarmouth service point on King Street every Friday.
Norwich Credit Union Vice President Alan Camina said: “We’re delighted to have this opportunity to reach more people who can benefit from our services. We’re grateful for the support of Great Yarmouth Borough Council and Neighbourhoods that Work, and of course, the enthusiastic volunteers who are providing this weekly service.”
Chair of the Housing and Neighbourhoods Committee Cllr Penny Carpenter said: “Credit unions offer a real lifeline for some people because they offer access to safe and legitimate financial services, helping to reduce the risk of people going to illegal money-lenders who often target desperate people on low incomes."
The Great Yarmouth service point will be run by local volunteers who have been fully trained by the credit union. One of them, Jay Stephen, said: “I work in town anyway and my hours had been reduced so I figured I would give something back to the local community. It is something I enjoy – in fact if anything it has made me want to get more involved.”
Norwich Credit Union was established in 1989 and serves anyone who lives, works or studies in the Norwich and Norflok postcode areas. As well as its head office in the city, the new service point in Great Yarmouth joins seven other local service points which bring the credit union’s services closer to communities across the county. Norwich Credit Union has more than 800 members, and has to date made loans worth more than £1.5 million to local people.