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NewsEastbourne MP saves with his credit union
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27-July-2017
Eastbourne MP saves with his credit union
Stephen Lloyd, the returning MP for Eastbourne has committed to a regular saving plan with his local savings and loans co-operative East Sussex Credit Union.
Stephen, who has been a member for several years has now made a regular savings contribution to his account in order to encourage local residents the importance of using their local credit union for savings and as an alternative to loans from high-interest rate lenders.

With changes to the welfare reform and the accessibility of residents having to receive their benefits direct into their bank account has caused several people issues regarding a lack of ID and those with no credit history.


In a meeting with their CEO, Ann Hickey and Helen McCabe their Marketing & Communications Officer Stephen said "I am an enormous supporter of credit unions. They offer far better interest rates than payday loans and they help people who may struggle opening bank accounts. Our local credit union is a vital component to the new Universal Credit system roll out and I would encourage everyone to use them. As a member organisation they are owned and run by the very members themselves. I personally have been a supporter and member of the East Sussex Credit Union for almost a decade. They are good people and a great credit union"

As an active member of his credit union Stephen has agreed to offer his support in promoting their services and was encouraged to hear more about the Saver-Loans which they offer. This means that when people take out a loan a proportion of their repayments goes towards a saving account in order to turn people into savers.

Ann Hickey, CEO commented saying that "It was good to have support from all political parties in the area as we work together to help people to become savers and less reliant on payday loan companies. With the imminent roll out of Universal Credit in Eastbourne and across East Sussex, East Sussex Credit Union is working to provide payment services for people who will be affected by this change. I would encourage everyone to visit our website at www.eastsussexcu.org.uk or one of our Help Points to find out more.



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