New home for Credit Union in fight against doorstep lenders » Communities » 24dash.com

County Durham based Prince Bishops Credit Union has moved offices to make it more accessible to the public.

The credit union has moved from Priestman Avenue to Glenroyd House in Medomsley Road, Consett, and is now open between 9am and 4pm from Monday to Friday.

The move places the credit union in a more central location for residents seeking advice about secured savings or taking out a low interest loan.

Prince Bishops Credit Union was created when East Derwentside Credit Union in Stanley successfully merged with West Derwentside Credit Union in Consett this summer.

The new credit union covers the whole of County Durham and has gained the backing of Derwentside Homes, Derwentside Council for Voluntary Services, County Durham NHS, County Durham Foundation and Sherburn Hospice.

Credit unions play a vital role in offering an alternative to loan sharks who can leave people feeling harassed and intimidated when faced with escalating debts.

The devastation caused by door-step lenders became apparent when Stanley resident Robert Reynolds, 39, hit the headlines for trying to force a mum-of-four to pay £88,000 interest on a £500 loan.

Keith Tallintire, Director of Finance and Corporate Services at Derwentside Homes, said: “The launch of the new offices is great news for the credit union as it provides a central location which is far more accessible not only to our tenants, but also to the wider population of Derwentside.

“The Prince Bishops Credit Union offers a life-line of support to those who find themselves in personal debt or unemployed which is increasingly common in the current climate.”

Lesley Richardson the newly appointed Manager of Prince Bishops Credit Union has established 31 years in Money Lending in a number of Management positions within London Scottish Bank plc.

Lesley said "The new office is more central for our customers and offers a more professional environment than we were in before.

“Glenroyd House is also home to other organisations such as the Citizens Advice Bureau and the Council for Voluntary Services, so residents have access to a wealth of support when they come to visit us.

“The new office is particularly important now that we have introduced our new loans with Five Lamps which provides people with instant access to a loan. The scheme helps prevent people falling into the hands of unscrupulous loan sharks by offering them a viable alternative when borrowing money.

“We also see it as very important to engage with children and get them to understand the importance of managing money, and 11-year-old Louise Brown, who has opened up a savings account with the credit union, says it is a good way to save up for the things she really wants."

It is hoped the proposed merger of the credit unions will increase the current membership base to more than 2,000 members across County Durham, as well as the number of services the credit union provides.

Anyone interested in contacting the Prince Bishops Credit Union should call 0845683 8669 or contact Glenroyd House direct on 01207 593 445.

In the near future, people will have greater access to places to pay their shares such as churches, community centres and rooms in office suites and schools across County Durham.

Volunteers are also needed to help run these points, and anyone interested should ring 01207 593 445.