Getting to grips with money madness.

Published by Gareth Holmes for Sanctuary Housing Association in Communities and also in Bill Payments, Housing, Local Government

Local residents are getting to grips with their money with help from Sanctuary Housing Association and Hull & East Yorkshire Credit Union.

The pioneering alliance has given Sanctuary Housing’sHullandEast Yorkshireresidents the chance to receive the latest financial products and services from credit union industry experts.

Hullresidents can now access suitable financial products including low-cost affordable loans and everyday bank accounts. The credit union, which is regulated by the Financial Services Authority, offers easy ways to save and a range of useful services helping local people learn to manage their money wisely.

This partnership follows on from the regional residents’ conference and a period of customer consultation, which highlighted a need for fair financial services.

Since 1999, Hull & East Yorkshire Credit Union has helped over 8,000 local residents. It has issued 20,000 low-cost loans worth over £17 million and saved its users over £5 million in interest charges.

Sanctuary Housing, part of Sanctuary Group – which manages some 1,400 properties inHull– endeavours to support its residents through a network of partnerships.

John Hanson, Sanctuary regional director, said: “We are always looking for new and better ways to improve the day-to-day lives of our customers.

"This is the start of an extremely important partnership for Sanctuary, which sees us teaming up with a well-respected local organisation known for delivering excellent financial services.”

Chief executive of Hull & East Yorkshire credit union, John Smith added: “We are pleased to be working with Sanctuary to introduce their tenants and staff to our range of not-for-profit financial services which not only offer a fairer alternative to expensive doorstep lenders but also provide a trusted home for their savings.”