ONE of the country's first citywide credit unions could be set up in York to help vulnerable people avoid the loan sharks.
The community-based savings and loans scheme would let ordinary residents take control of their own finances, says John Cossham, one of a group of York residents hoping to launch the credit union.
Run by its own members, it would provide an alternative to the bank or finance company, along the lines of the original building societies.
Mr Cossham says many people in York do not have bank accounts, or if they do, are not considered credit-worthy and are refused a loan. He says they sometimes turn in desperation to a loan shark.
A public meeting will take place at 7pm on April 29 at the York Friends' Meeting House for anyone else who is interested in getting involved. For further information, contact Mr Cossham, telephone York 651773.
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