Why A Shropshire Wide Financial Services Project?

With mainstream banks reducing their high street presence and the concerns of central government with regard to the problems posed by financial exclusion, Credit Unions can fill an ever-expanding gap. Whether in employment or not, access to just Credit Union's services will provide benefits both for the individual member and for the community generally. just Credit Union will provide an affordable and viable alternative to mainstream financial institutions to all sectors of the local population. As a locally run co-operative, just Credit Union will share its profits with its members, keeping money within the local economy and working for local people. It is unlikely that there will be profits to share for the first two years while the pool of savings becomes established and the first loans are provided for members - after all the profits will be generated by the members taking out loans! OUR CREDENTIALS just Credit Union was registered with the Registry of Friendly Societies in August 2001. This was the result of the work and skills of a committed group of Shropshire volunteers supported by paid staff. The registration of the credit union in Shropshire is ground breaking covering a large geographical area with its common bond. For this reason the planning and training by the volunteers and examination by the Registry was time consuming. The aim: to ensure an infrastructure would be developed to meet all needs, especially of those in the most rural areas. The use of IT software specifically developed for credit union accountancy ensures efficiency in recording and monitoring operations. The service is available to anyone who "lives or works within the administration of Shropshire". (This is referred to as the common bond for membership).

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