Wolverhampton City Credit Union, which is owned by its members and allows them to save and borrow money at low rates, has opened a branch inside the Civic Centre.

Type=image;ImageID=5123;ImageClass=left;ImageTitle=Wolverhampton City Credit Union;TitleClass=strong;

The satellite branch is now open on the ground floor of the Civic Centre, in St Peter's Square, and will complement the main office in Worcester Street.

The credit union is a not for profit organisation which is owned, managed and operated by its members. Anyone who lives or works in Wolverhampton or South Staffordshire can open an account.

Wolverhampton City Credit Union exists to bring the community together to save and borrow at low rates and to help people who struggle to borrow elsewhere due to a low credit rating. It aims to protect people from the extortionate interest rates charged by loan sharks and payday lenders.

Councillor Andrew Johnson, Wolverhampton City Council's cabinet member for resources, said: "The links between the city council and the credit union go back a long way. It was actually a group of council employees who formed the credit union in 2002. We are delighted to have been able to create a branch of the credit union in the Civic Centre and we hope the thousands of people that come through our doors will be able to benefit from the excellent services they provide.

Matt Goulding, manager of Wolverhampton Credit Union, said: "We now have more than 5,000 members and hold a total savings balance of more than £1 million and loans of £750,000.

"Our new Civic Centre branch has the facilities for new members to join, open savings accounts and apply for loans. It is an excellent location in a busy public building in the heart of the city centre. We would welcome anyone to come in speak to us so we can tell them about the services we provide."

More information is available at Type=links;Linkid=2186;Title=Wolverhampton City Credit Union;Target=_blank; or by calling 01902 572340.

  • released: Thursday 11 September, 2014