Please Volunteer for the Credit Union

Volunteers needed for a community-based financial service.

Crediton's Plough and Share Credit Union branch is looking for new people to join our group.

We currently serve 72 users and open up an office in the former Council Offices in Market Square every Friday afternoon for an hour and a half. We serve both those wishing to save and borrow and newcomers wanting to join. We have a volunteer rota of two people per week to staff it. In between times, users can contact the Devon-wide headquarters online at www.ploughandshare.co.uk or by telephone on 01837 658123

Credit Unions aren't just a lifebelt for those struggling to qualify for high street borrowing. As community-based co-operative, we can also appeal to those who want to benefit their neighbours and the local economy.

We are there to provide a financial community. The idea is that members mutually benefit as there is no profit for third party shareholders. Low interest rates on loans pay for the administration and any left over at the end of the year is distributed as a dividend to members.

Most banks don't bother to offer small loans, under £1,000, and are not keen on savers of small amounts of just a few pounds a time. Plough and Share have no minimum amounts, simply encouraging people to save what they can and to borrow only what they can afford to repay. Without this facility borrowers can be driven into the arms of doorstop lenders or payday loan companies who still have typical APRs (annual percentage rate charged for borrowing) of 272%.

These massive interest payments charged by doorstop lenders and payday loan companies can not only trap borrowers in a cycle of debt but also remove money that could be circulated around the local economy to their national headquarters. In the two and a half years the Crediton branch has been open, a notional amount of over £76,000 has been saved in the EX17 area alone by loans from Plough and Share.

Your savings are just as safe as in a bank as credit unions are also regulated and covered by the Financial Services Compensation Scheme up to the same amounts.

So, if you can spare an hour and a half once a month or so please do get in touch with Sustainable Crediton Members Gerald Conyngham  or Jill Baines at via the contact on the right.

Already convinced and want to sign up straight away?   Then contact Jill Baines via the contact on the right.