A CREDIT Union to help York people who collectively owe millions of pounds in debt is to be formed at last.
City of York councillors and officials will rally to the cause at a meeting at the Guildhall on Wednesday next week. A feasibility study has concluded that a credit union would fill a niche market in York, and help to reduce debt and poverty,
The study, commissioned from the Association of British Credit Unions Ltd (ABCUL) by York Credit Union Study Group has sparked the formation of a steering group.
The group will launch a financial co-operative in the city in which members will be encouraged to save regularly and get access to cheap loans and other financial services.
More than 640 local people have already pledged to join the York Credit Union when it opens for business in Spring 2004.
Melody Clarke, chairwoman of the volunteer board of directors, said the meeting with councillors and officials next week was a perfect opportunity to recruit new members of the steering committee. Another meeting takes place at the Friends Meeting House in Friargate, York, on November 12, to which potential key partners in the city will be invited.
Updated: 08:51 Tuesday, October 22, 2002
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