Grant provides boost to new Stonehouse ethical loans provider
Published 13 Feb 2017 in Community
The Midcounties Co-operative has pledged its support to a new ethical Credit Union in Stonehouse after providing a grant of £1,745 to the initiative, which aims to put local people experiencing financial difficulties back on a sound footing.
Due to open in February, the newest Stroud Valleys Credit Union branch is backed by the Church of England, the Catholic Church and The Methodist Church in Britain, and will offer affordable loans as an alternative to high-interest short term providers. It will also provide savings schemes to promote the importance of responsible financial management.
The provision of the grant will enable the entirely volunteer-run organisation to invest in leaflets, posters, banners and advertising, helping residents of the Stonehouse area to learn about the new service.
Philip Davenport from Stroud Valleys Credit Union said:
“The current financial climate is causing financial difficulties for many in our region, and we exist to alleviate these pressures in an ethical and responsible way, whilst encouraging our members to save money in future.
“As a completely volunteer-run organisation, this grant from The Midcounties Co-operative is invaluable in ensuring that we can get our message out to those who need help, and we’re grateful for this generous donation.”
The grant has been issued following a successful application to The Midcounties Co-operative’s community fund, which provides donations to worthy recipients throughout the Society’s trading areas.
Pat Kiely, Leadership Team Ambassador at The Midcounties Co-operative, said:
“As a co-operative, we’re always striving to create a better, fairer world, and we’re pleased to support this initiative, which aims to help people overcome their difficulties in a non-exploitative way.
“Our Community Grants scheme is designed to provide help to those unsung organisations that make a difference in the local area, and Stroud Valley Credit Union certainly meets this criteria.”
Applications for the next round of Community Grants is open until 17th February.