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NewsSavers & borrowers in Whitmore Reans bank on WCCU
Savers & borrowers in Whitmore Reans bank on WCCU

Wolverhampton City Credit Union (WCCU) has approved £54,000 worth of ethical loans for members of the former Whitmore Reans Credit Union which closed in March.

Local residents have also banked nearly a quarter of a million pounds of savings with WCCU, the city’s only community-based credit union.

Having taken over the lease on premises at 221 Newhampton Road East, WCCU now hopes to provide a collection service for local members, run by volunteers.

Manager Matt Goulding said: “Initially, the closure of Whitmore Reans Credit Union after 25 years caused some concern in the local community. But we’ve been able to step into the breach. Every week, we’re welcoming more members as word gets out that there is a credit union now serving Whitmore Reans.

 “Our immediate concern was that the lack of a credit union locally would expose people to exploitative payday or doorstep lenders, or worse, loan sharks. Our presence is helping to see them off.   

Former members are invited to the premises at a special sign-up evening on Wednesday May 4, 2016 from 5.00pm to 9.00pm when WCCU staff will be on hand to help, advise and sign up people who would like to join.



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