North East Credit Unions Welcome £30M Government Support for Expansion

Supporters of credit unions have welcomed government plans to support their expansion, saying they offered a safe alternative to loan sharks. Ministers have promised £30m to support member-owned credit unions, which offer savings accounts and loans, and are planning legal changes to make it easier for them to expand. Brian Lindsay, from Redcar, who uses the Moneywise Credit Union branch in Stockton, praised its staff and said they treated him "like a person". "In the bank you're just a number," he said. Lee Williams, chief executive of Moneywise Credit Union, which has branches in Stockton, Middlesbrough and Byker in Newcastle, said its aim was to provide affordable products and a flexible approach. But he acknowledged credit unions suffered from low levels of public awareness. "We're not here to make loads of money," he said. "We're here to try and help the community and help those people that can't get help elsewhere."