Alternative to pay day loans

Corby Council is to launch an ethical savings and loan scheme for residents.

A Northamptonshire Credit Union access point will operate at the One Stop Shop in The Cube from Monday, February 3, manned by two council financial inclusion officers.

It will accept applications for Northamptonshire Credit Union membership and act as a local paying in point.

Leader the council Cllr Tom Beattie said: “We are pleased to be opening the access point and supporting an alternative way for residents to save and borrow money. The credit union benefits anyone who may have been refused an account by a high street bank, those who have had to turn to payday loans, or worse illegal lenders, and those who would like a more ethical way of banking.”