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