A Fairer Alternative for North Bransholme

Published by Riverside for Riverside in Housing

With welfare reform on the horizon, Riverside has signed a partnership agreement with Hull & East Yorkshire Credit Union to help North Bransholme residents manage their money.

The partnership is the latest in a series of measures by Riverside to lessen the impact of the government’s bedroom tax, which will see social housing tenants face a cut in housing benefit if they are deemed to be under-occupying.

Carl Mitchell, Riverside’s Operations Manager, said: “In the current economic climate, we’re doing all we can to help our residents help themselves. We’ve already taken on a money advisor to help people budget better and claim benefits they may be unaware of, an energy advisor to help residents combat rising fuel costs, and an employment and training officer to help people back into work. Our partnership with Hull & East Yorkshire Credit Union is a further example of our commitment to creating sustainable communities.

“At a time when many people are struggling to find user-friendly financial services they can trust, credit unions are a fairer alternative. They help people take control of their finances by encouraging them to save what they can, and borrow only what they can afford to pay back.” 

Anyone who lives or works in East Yorkshire can become a member and rest assured that their savings are safe as Hull & East Yorkshire Credit Union is regulated by the Financial Services Authority.

In a bid to encourage its residents to sign up, Riverside is offering incentives, including paying the joining fee and a £10 top up after they’ve saved for 12 weeks.

Carl added: “Many of our tenants don’t have bank accounts or have bad credit ratings and can’t access affordable credit. The danger of spiralling into more debt through high interest loans, especially after Christmas, is very real for some. We encourage people to join a credit union rather than resort to high interest lenders, expensive weekly payment stores, or even illegal loan sharks.”

For more information, call into Riverside’s North Bransholme office in Grampian Way, visit www.hullandeycu.co.uk or call 01482 778753.