NE First Credit Union partners with County Durham Council
21 Sep 17
Research has found that over 70 per cent of working families in County Durham are worried about their finances with many becoming reliant on high cost, long and short-term credit.
NE First Credit Union and County Durham Council have developed systems that make it easy for businesses to setup and offer their employees a simple method of saving directly from their pay.
Due to the work the Council and the Credit Union are doing together, people are now starting to take the idea of putting aside money each month more seriously.
Project Development Officer for Durham County Council Paul Atkinson said, “We’ve a lot of people in the county getting into financial difficulty because they are tied into high interest borrowing, unable to get a loan from the banks or have little or no money set aside; and we’re talking about people who have good jobs in many cases, and not just those on very low incomes."
The Durham Savers Project is helping businesses provide a structured saving scheme within their organisation that helps staff save much more easily, and the reaction from staff is very positive.