South West Bath Credit Union

Funding: £84,334

Date of funding approved: March 2005

Date of project completion: March 2007

Project summary

Within the BCP area, many residents are denied access to mainstream financial services.  In many instances mainstream banks and building societies have withdrawn from the area, with Post Office closures now compounding the problem of restricted access to financial services across low-income families.   The financially excluded suffer discrimination and disempowerment as the social stigma of debt and the lack of disposable income causes barriers to community participation.  Freedom of choice is hugely diminished due to high levels of income being used to service debts.

The Credit Union will employ a full-time manager to deliver the strategic objectives of the Board of Directors.  The manager’s role will be to develop new services to members, seek out further funding streams, develop and maintain partnerships with external agencies and expanding the membership base through appropriate marketing and advertising.  The funding will enable the Credit Union to become self-supporting and sustainable, delivering a far-reaching and valuable service to its members.  

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