Caroline Pidgeon recently visited Lewisham's successful credit union in Sydenham to find out more about the valuable work they do in helping people with their personal finances.
Lewisham credit union operates across the entire borough of Bromley (under the registered trading name Bromley Plus) as well across the borough of Lewisham (as Lewisham Plus). It is a financial co-operative with a mission to promote the financial well being of its members, by encouraging members to save what they can, but also providing access to borrowing at levels that they can afford to repay.
Over the last 19 years it is has grown significantly and now has 7,000 adult members and 1,500 Junior savers, holding capital assets of over £2,500,000. It has granted more than 10,000 affordable loans and ensured many people have avoided getting heavily into debt.
Speaking after the visit Caroline said:
"Lewisham Credit Union is an excellent example of a successful social enterprise. They provide a valuable service to people, whatever their income. Most importantly the credit union allows people who need to borrow money to stay clear of expensive payday loans or loan sharks."
Read more about the credit union here.
Photo (from left to right): Stephen Knight, Liberal Democrat London Assembly Member, Liam Carlisle, Community Outreach officer for Lewisham Credit Union, Caroline Pidgeon and Councillor Chris Maines, leader of Lewisham Lib Dem Council Group.