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Milestones for First Dorset Credit Union

Money

7:56am 19th August 2014

First Dorset Credit Union is celebrating two milestones, with a visit from the Mayor of Dorchester.

Councillor Peter Mann visited their county town branch yesterday to sign up to the credit union, as well as congratulating the volunteers on gathering £1 million in savings.

The organisation is a community savings bank, with around 2500 active members, which provides loans and savings accounts. To become a member, you must be a resident in Dorset.

Kaye Kerridge, a Volunteer at the Credit Union, said: "People save with us and we give low cost loans, which are far more ethical than some pay day loans and high-street lenders. Any profits we make are passed back to the members as dividends - there are no large salaries and bonuses as you have in banks.

"My favourite thing is to be on the service point where members come in, they pay in money, they pay in loans; you just get to meet people. You know that the loans we give to people really do help them when they need a loan. It's not just for people who are poor, it's for everyone."

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