New credit union officer backed by Haverhill Town Council
Eastern Savings and Loans Credit union has been boosted by the addition of a business development officer funded by Haverhill Town Council.
The credit union has been in Haverhill for some years but has recently struggled to get enough volunteers to man the High Street office it shares with Havebury Housing Partnership.
That changes with the appointment of Peter Tatam who recently retired from running a financial services business and is eager to promote the credit union. He says to expect to see him giving talks to interested groups and organisations as well as manning the ESLCU stall at local events.
Credit unions are ‘not-for-profit’ organisations dedicated to improving understanding of the careful use of borrowing and saving. Each person who saves or borrows from a credit union becomes a member of that union. If a profit is made after legitimate expenses it is returned to the members as a dividend.
They offer loans at competitive rates to all people taking account of an individual’s circumstances, and are more flexible than a mainstream bank.
The office will soon begin opening on a regular weekly basis.
Any group that wants to know more can call Peter on 07875 212071.