RESIDENTS living in the most deprived areas of Nelson are to be given a helping hand by the town's popular credit union.
Substantial development of Nelson Community Credit Union will involve the appointment of a full time manager and back-up administrative staff for the voluntary savings and loans group.
The 1,000-member credit union aims to concentrate its development efforts on areas of greatest social need in Brierfield, Whitefield And Bradley wards of Nelson, setting up new collection points and service centres.
In his annual report to members union President Lou Gildea said the dedication and enthusiasm of all members, from directors to volunteers, would be needed to meet targets. He said: "Your co-operative spirit and ideals and enthusiasm will be needed if we are to remain in the forefront of successful Credit Unions in Lancashire."
Speaking at the union's 19th annual meeting in Silverman Hall, Mr Gildea said he was pleased to announce assets in the year had risen 11 per cent with a similar increase in savings to £561,000; loans granted were up 13 per cent to £4.7million and there had been a six per cent rise in membership. "The results are to the credit of every member."
The Nelson Union is the longest-established and largest in East Lancashire. It has offered a four per cent dividend on savings and provides cut-cost loans to members at 12.6 per cent APR. The union also has a junior section with 200 members who have a total of £27,000 in savings.
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