IN a new collaboration between Plymouth & South West Co-operative Society, HOPE Credit Union and other credit unions in Plymouth, members of all four credit unions will be able to pay in money at Derrys Department Store, Royal Parade, the Plymco Supermarket, Embankment Road and Your Local Co-op Pike Road, Plymouth.
One problem holding back credit union growth has been the lack of availability of service points, which are normally staffed by volunteers for a few hours a week. This is now set to change, says Graham Plumb of HOPE Credit Union: "This excellent city centre credit union facility staffed by Plymouth & South West Co-op releases more of our volunteers to promoting the principles we share with the Co-operative Movement, namely self-help, self-responsibility and member economic participation."
He continued: "The relationship with Derrys presents a more accessible gateway to credit union activity and membership. We hope that this will raise interest in the work of credit unions as part of our goal is to encourage more members from all sections of our community to use these facilities as they do in America and Ireland where credit unions compete with major High Street banks."
John Riley, Society Secretary said "We are delighted to be able to use some of our resources to help the development of smaller co-op businesses in Plymouth. We are particularly excited about helping to promote credit unions as we believe that they offer a real alternative."