Fusion Credit Union has been operating in Lichfield since 2005 and, thanks to funding from Cannock Chase Council, will soon be offering its services to people living and working in Cannock Chase District.
Members of Fusion Credit Union voted to extend its service into the District at their AGM on 8th March. Pending final agreement from the Financial Services Authority (FSA), Fusion can start offering its services in Cannock Chase.
Credit Unions are not-for-profit financial co-operatives that pool members’ savings to make low-cost loans to other members. Fusion is operated entirely by volunteers and an appeal has been made to people in the District to make sure it is a huge success in Cannock Chase.
It is anticipated that the first collection point will be established in the reception area at the Council’s Civic Centre in Beecroft Road, Cannock, but further points will then be opened in different locations across the District.
It will cost just £2 to become a member of Fusion Credit Union.
Cllr Gordon Alcott, Cannock Chase Council Economic Development and Planning Leader, said: “We’re delighted to be able to help Fusion Credit Union offer their invaluable services in Cannock Chase District. Credit Unions play a vital role in making sure that people can have access to affordable credit and don’t fall prey to loan sharks and other undesirables. I urge anyone who would like to volunteer and make the credit union a huge success in the District to get in touch.”
Pete Selwyn, president of Fusion Credit Union, said: “Fusion has a successful record in helping people to save and in providing access to loans at reasonable rates of interest. We welcome volunteers from all walks of life, with a range of skills and experience. It is a fantastic opportunity to meet people and feel pride in the difference you make to peoples’ lives.”
As well as being able to save and borrow, Fusion Credit Union also has a special junior account and offers loans for home deposits and insurance. Log on to www.fusioncreditunion.co.uk for more information.
Information courtesy of Jamie Summerfield.
Member since: 10th July 2012
I am Steve Mallows, the owner of thebestofcannock.I have lived in Cannock since moving down from Yorkshire aged 5 years.I am passionate about the Cannock area and helping local businesses. I have a keen...