Riversides unite

Published by Roisin Rowley-Smith for Riverside in Communities and also in Bill Payments, Housing

Residents in south Liverpool are signing up for affordable loans and savings with Riverside Credit Union, which holds drop in sessions at the local landlord’s office in Netherley.

Social landlord Riverside teamed up with the Credit Union to offer residents from Netherley, Belle Vale and Childwall a savings and affordable loans service, because there is not a Credit Union based in the area.

Since June last year, 235 people have set up savings accounts, and over 200 have taken out an affordable loan.

Laura Bostock is financial inclusion manager for Riverside.  “Many of our tenants do not have bank accounts, or have bad credit ratings and cannot access affordable credit.  The danger of spiralling into more debt through high interest loans, especially after Christmas, is very real for some,” said Laura.  “We encourage people to join a credit union rather than resort to high interest lenders, expensive weekly payment stores, or even illegal loan sharks.”

Riverside Credit Union holds a drop-in service at Riverside’s housing office in Netherley on Tuesday mornings, and at Childwall Estate Management Board office on Wednesday mornings