Burngreave Messenger

Issue 27 December 2002





Credit to the community

Do you want to save money regularly? Do you need a small loan? Then Pitsmoor Credit Union can help you!

If you are over eighteen, live in Burngreave and have £1 you can become a member. After 10 weeks of saving regularly you will be able to borrow money, up to three times the amount you have saved. Interest is charged at 12% per year and unlike many bank loans you can borrow a small amount and there are no hidden charges or penalties for early repayments. Loans are made by cheque which can be cashed straight away at the Co-operative Bank in town if you haven’t got your own bank account.

The Credit Union has been serving Burngreave for over 7 years now. Long standing members, Len and Hazel, have been there since the early days, “It’s been run by dedicated volunteers and we’ve been putting in lots of effort over the last few months. We hope that soon we will have New Deal funded workers who can support the work volunteers do.”

The new chairperson, Caroline Harris, explained, “this is a community owned enterprise run by local people. While big banks have moved out of the area, we will stay at the heart of the community providing a service for people, many of whom don’t have bank accounts.”

Treasurer, Annie Blindell, who has volunteered for the project for three years, told the Messenger, “We have over 150 members with £45,000 in savings, but, if we can increase that number, the loans could become cheaper. Any money the Credit Union makes goes back into the organisation and benefits the people who save with us.”

To find out more contact Pitsmoor Credit Union office on 273 8555, or come to a collection point. Click on the 'leaflet' in the right hand column for more information.

Collection points are at Christ Church Community Hall, Nottingham Street Entrance 11am–12noon Thursdays and at the Pitsmoor Credit Union Office also at Christ Church Mondays 7–8pm


Pitsmoor Credit Union leaflet
Click on the picture to view leaflet.