Chiltern Community Banking Points open for business
Two community banking points are opening in early February in the Chiltern District, following Friday's successful launch of the South Buckinghamshire Community Bank.
Every Monday, from3 February, between 1.30-4.30pm the first banking contact point will be opening at Chiltern District Council, King George V Road, Amersham. The second weekly session starts from Friday 7 February, at Chesham Citizens' Advice Bureau, Townsend House, Townsend Road, 2-4pm.
More banking contact points will be opened across the Chiltern, South Bucks and Wycombe districts as the new Community Bank develops, and more volunteers come forward to run them.
The new venture was launched on Friday 24 January, at Chiltern District Council, and represents two years' work from local authorities and a range of voluntary organisations. South Buckinghamshire Community Bank has joined an already existing Credit Union, M for Money which supports several similar schemes.
It encourages people to save regularly, even small amounts, at attractive interest rates. Anyone can become a member, including people with poor credit history or who have had difficulty managing their finances in the past.
Cllr Peter Hudson, Chiltern District Council's Cabinet Member for Community, said: "This is a not-for-profit banking system, run by volunteers, so overheads are kept to a minimum which allows the bank to pay out a healthy rate of interest on savings while keeping borrowing costs low. As a Council we are delighted to be supporting this project and am proud to see the initial banking point opening in our offices."
Marjory Hester, Chiltern representative of M for Money, said: "This is an exciting time for us. Once the community bank becomes more established, and have more volunteers on board, we'll be increasing opening times and extending locations. This will be a bank run by the community, for the community. No one is in it for profit."
For further information, please contact M for Money on 0208 756 3866