Twynham Housing Association is helping its residents and staff get better access to safe, low-cost savings and loans with a £1,000 donation to Salmon Credit Union, a non-profit savings and loans co-operative for Christchurch, East Dorset and West Hampshire.

Adults and children who live or work in these areas can become members. They are encouraged to save regularly and any profit is returned to them as a dividend. Borrowing is also simple, with no hidden costs and a legal maximum interest rate. Credit Unions have the same regulation and security as banks and building societies but the money stays local so is very good for the local economy.

Twynham’s Managing Director, Marion Franks, said:
“We are extremely pleased to be able to support such a worthwhile local cause. Credit unions encourage people to save regularly and they are also an ideal way for our residents to avoid unscrupulous doorstep lenders who prey on those least able to afford their high loan rates.”

Published 13 July 2006
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