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It pays to save

last modified  12/07/2010 08:59 AM

EastendHomes is partnering with the Tower Hamlets Community Credit Union to help you to save those pennies and turn them into pounds. Tower Hamlets Community Credit Union is a community-owned and controlled financial co-operative.

The credit union provides a wide range of practical, affordable and straightforward financial services to everyone living or working in the borough. Whatever your circumstances, they try to find a financial solution to suit your needs. They are particularly useful for ordinary households on relatively low incomes, who want to save a little when they can and then when needed access small loans at reasonable interest rates, loans which very often would previously have been met through high interest money lenders.

If you are an EastendHomes tenant with a clear rent account, and you open a savings account with the credit union and save at least £5 every month for the first six months, then EastendHomes will double it (up to a maximum of an extra £30) at the end of the six month period. Contact Alex on 0207 517 4729 to register for the scheme. This bonus will only be paid once per household.

Credit union packs are already available in your local housing centre, and you can check out their website or phone 0207 729 9218 for further details.

For more information on organisation who can provide you with support with your finances, see this leaflet provided by the London Borough of Tower Hamlets, and see also the organisations listed on the Financial Inclusion page of this website.