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NewsEastbourne MP commits to local credit union
Eastbourne MP STepehn Lloyd starts saving
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27-July-2017
Eastbourne MP commits to local credit union

Stephen Lloyd, the returning MP for Eastbourne, has committed to a regular savings plan with his local savings and loans co-operative, East Sussex Credit Union.


Stephen, who has been a member for several years, has now set-up a regular savings contribution to his account to highlight to local residents the importance of using their local credit union for savings, and as an alternative to loans from high-interest rate lenders.


In a meeting with the ESCU team, Stephen said:
"I am an enormous supporter of credit unions. They offer far better interest rates than payday lenders 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 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 pledged to offer his support to their services and was encouraged to hear more about the Saver-Loans which they offer, where a proportion of loan repayments go towards a savings account to help convert people into savers.


Ann Hickey, CEO of East Sussex Credit Union commented that
"It is 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”

Photo: Stephen Lloyd MP with Ann Hickey, CEO (left) & Helen McCabe (right) of East Sussex Credit Union


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