Residents in south Liverpool are signing up
for affordable loans and savings with Riverside Credit Union, which
holds drop in sessions at the local landlord’s office in
Netherley.
Social landlord Riverside teamed up with the
Credit Union to offer residents from Netherley, Belle Vale and
Childwall a savings and affordable loans service, because there is
not a Credit Union based in the area.
Since June last year, 235 people have set up
savings accounts, and over 200 have taken out an affordable
loan.
Laura Bostock is financial inclusion manager
for Riverside. “Many of our tenants do not have bank
accounts, or have bad credit ratings and cannot access affordable
credit. The danger of spiralling into more debt through high
interest loans, especially after Christmas, is very real for some,”
said Laura. “We encourage people to join a credit union
rather than resort to high interest lenders, expensive weekly
payment stores, or even illegal loan sharks.”
Riverside Credit Union holds a drop-in service at Riverside’s
housing office in Netherley on Tuesday mornings, and at Childwall
Estate Management Board office on Wednesday mornings.