Town’s credit union an alternative to payday loans

Red Gables, Ipswich Road, Stowmarket

Published on 26/10/2012 08:00

Stowmarket is getting its own credit union - an alternative to high cost payday lenders.

The Stowmarket and District Credit Union, part of the Ipswich and Suffolk Credit Union, is being launched on November 8 at the town’s Meadow  Centre.

Anyone over the age of 18 who lives or works in Suffolk can join the scheme as a full member and under 18s can open a junior account.

Members save with the union for at least 13 weeks and then can apply for a loan of up to three times their savings.

Suzanne Britton, from Mid Suffolk Action in Partnership said: “The credit union is a great alternative to payday loan companies which can be very  expensive.

“With Christmas coming up it will help a lot of people.”

For more information visit www.iscu.onesuffolk.net/home or telephone 01473 690 690

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Town’s credit union an alternative to payday loans

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