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£19,000 award to Salford Credit Union to help more in debt

More people in Salford will get a helping hand thanks to a £19,500 award from Newground Together charity to the Salford Credit Union.

The funding will help the credit union train their volunteers to help people manage their money, reduce debt and stress.

Clients will also get the chance to save or get access to low-cost loans they wouldn’t be offered through traditional high street banks.

The funding will allow more people access to vital services, offering a better alternative to loan sharks and high-interest pay-day loan companies.

Peter Jordan, Newground Together’s Executive Director, said: “It’s never been more important for families to take control of their finances, and Salford Credit Union will help people gain the skills to do just that.

“Through training their volunteers, they will be able to spread their knowledge more widely and give people access to vital services.

“This will not only help people manage their money and debts, but will also help people reduce stress and increase wellbeing and we’re very happy to support it.”

Chair of Salford Credit Union’s Board, Paul Whitehead, said: “Salford Credit Union is really grateful to Newground Together Charity for making these funds available.

“It will mean we will be able to have a staff member able to work out in the community with groups, which is important because many people in Salford do not know that the Credit Union can help them start build up savings and save them money if they need a loan.

“At a time when people are struggling with higher bills and less money in their pocket it is even more important if we can help them get more control over their finances.”

City Mayor Paul Dennett welcomed the award and said: “”ot everyone is aware of credit unions as, unlike payday lenders, they don’t have large budgets to advertise their great services.

“Salford Credit Union can offer trustworthy financial support and puts its members’ interests at the heart of everything it does.

“This award will make a huge difference to people’s lives especially given the reality of job insecurity and government cuts to welfare and local government budget.  Credit unions can be a lifeline for those in urgent need and a service for every Salfordian.”

For more information about Salford Credit Union please visit: www.salfordcreditunion.com

Main image: Sheila Murtagh, Salford Credit Union CEO, Salford City Mayor Paul Dennett and Newground Together Executive Director Peter Jordan.

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Tom is SalfordOnline.com's News Editor and community co-ordinator.