With recent backing for credit unions from the Archbishop of Canterbury, Herefordshire’s own local bank for local people has launched a recruitment drive. Money Box credit union has ambitious plans to reach 2,000 members in the county within 12 months.
Chair of Money Box, Peter Brown said, “If we can get just 1% of Herefordians to become members we’ll be able to offer more services and facilities.”
The credit union already has 800 members and provides loans to members at just 2% per month – and over longer periods than the banks are willing to lend. Credit Unions are financial co-operatives and any surpluses generated are paid back to members as a dividend.
“Saving with Money Box is a great way to keep money local – and stop rich bankers taking a slice,” said Peter Brown, “and you can get a loan low cost loan for your everyday needs,” he added.
"I needed a loan to help buy a new car"
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