£30,000 boost to Suffolk credit union
Eastern Savings and Loans receives money from Lloyds Banking Group’s Credit Union Development Fund.
The credit union, which has its office in Ipswich, provides savings accounts and affordable loans to businesses and individuals in East Anglia.
Lloyds’ Credit Union Development Fund is designed to strengthen the financial position of credit unions to enable them to provide responsible lending to local people and organisations.
CEO at Eastern Savings and Loans Credit Union, Chris Mole, said: “We’re extremely grateful for this significant cash injection, which will strengthen our capital position.
“It is difficult to add to reserves while investing in the new technology and marketing needed to grow. This will help us boost our membership and still meet regulatory requirements.”
You may also want to watch:
Over the past five years the fund has awarded nine East of England credit unions with £481,171 to support members across the region.
- 1 'Beautiful inside and out': Tragedy as mum dies 48 hours after giving birth
- 2 Jeffers set for Ipswich Town coaching role
- 3 'The manager has to impose his will... we'll give him the resources to do that' - Detmer on Cook's transfer funds
- 4 Ipswich Town reveal full retained list as six first-teamers get extended stays and eight depart
- 5 'The honour of my life' - Chambers' message to Town fans after departure confirmed
- 6 Former judge's widow on trial for sex abuse of young boy in 1980s
- 7 Woman taken to hospital after being hit by car
- 8 More than £23k raised in memory of mum who died 2 days after giving birth
- 9 Armed police box in cars on A12 after men seen 'fighting with swords'
- 10 Hospital waives car parking charges for 'those who need it most'