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Whitby And District Credit Union

Over £25,000 has been secured from the European Regional Development Fund (ERDF) to finance the Whitby and District Credit Union.  

The Whitby and District Credit Union is a non profit making savings and loan co-operative that is a source of low cost, high quality, and ethical financial services.  It provides these services to the people of Whitby and District where no such service previously existed.  

It will assist in community development by bringing together people and organisations, encouraging involvement and empowering people to take greater control of their lives.   It is hoped that this will foster a greater sense of co-operation and community spirit.

The Credit Union in Whitby aims to make it easy for members to save and offers low interest loans to its members.   It is owned and run by
members, strictly controlled by law to ensure money is safe and
shares the profits between members. 

Interest charges on loans will be retained by the community, creating better buying power and which will in turn benefit local businesses. 

This project will assist one organisation and one network and currently has 130 members and savings of over £13,000.