Could you help credit unions help local people?

Earlier this month Cambridge City Council outlined a project to expand its support for the work of two credit unions which operate in Cambridge – Eastern Savings & Loans, and Rainbow Savers.

The project would see an expansion around the city of access points to the credit unions, with additional drop-in sessions to begin in King’s Hedges, Trumpington, Romsey, East Chesterton, Abbey and Cherry Hinton. A one-stop ‘financial inclusion hub’ would also be created, where residents could obtain advice and support.

To help with the rollout of these plans, the credit unions are currently looking to recruit volunteers who would be able to give some of their time on a regular basis in a number of exciting roles. Volunteers would be given full training and would serve customers, sign up new members, deal with enquiries and offer advice, help people open accounts and carry out general administrative tasks.

Support for inclusive banking and loan services such as credit unions forms an important part of the council’s Anti-Poverty Strategy, which aims to tackle the inequality that exists in the city.

Credit unions offer a great way to help people save and plan their finances, as well as being a safer source of small loans than loan sharks or payday lenders.

Sally Chicken from Rainbow Savers Credit Union said: “We’re looking for volunteers who can spare a few hours each week to offer advice, explain the work of the credit unions and help people open accounts. The paperwork is straightforward and it is really rewarding to help people move from exclusion to having a debit card, a savings account or a jamjar budgeting account – whichever they need.

“Ideally volunteers will have experience of working with a wide variety of people. But full training will be provided, so the most important things we need from volunteers are enthusiasm and commitment. Hours are very flexible – so even if you think you could spare just a few hours a week, we’d love to hear from you.”

Cllr George Owers, Executive Councillor for Finance and Resources, said: “By offering their time to work for credit unions, volunteers can play a crucial role in targeting the poverty that exists in Cambridge, by helping people on low incomes make the most of their money. I urge public spirited members of the public to get involved with one of the most worthwhile projects in the city.

“In addition, when Universal Credit comes to Cambridge next year, people will start to receive benefits monthly rather than weekly. Credit unions can really help people manage their money better, and prepare for the changeover from budgeting on a weekly to a monthly basis.”

“If you’d like to get involved, please email financialinclusion@cambridge.gov.uk for more information.”
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