Rural finance chief visit
A Shropshire scheme which has more than 1,600 local savers received the seal of approval from one of the Government's leading rural figures.
A Shropshire scheme which has more than 1,600 local savers received the seal of approval from one of the Government's leading rural figures.
Just Credit Union, which provides access to accounts, affordable loans and insurance products, was the first organisation to receive a special visit from Will Aston, the new Rural Financial Inclusion Champion for England.
During his guided tour, he talked to bosses about the way the system operates, including its network of operators, the technology it uses and its strong ties with county charities and voluntary agencies.
"With post offices and banks closing all the time, people in rural areas are becoming more and more isolated when it comes to gaining access to simple bank accounts and insurance products," added Mr Aston, who lives in Bridgnorth.
"This is why organisations like Just Credit Union are so important in providing essential services that individuals understand and trust.
"Having seen first-hand how it works, I'm absolutely struck by the sense of team spirit and co-operation and this, when coupled with the clever use of technology, has made sure the scheme is one of the most successful in the UK."
Just Credit Union has five dedicated branches in Craven Arms, Ludlow, Market Drayton, Oswestry and Shrewsbury, with trained volunteers helping guide people through opening new accounts, applying for loans and making deposits.
Supported by Shropshire County Council and a host of employers, the scheme has more than 1,600 active members, including 200 junior savers from five local schools.
It covers 1,234 square miles, serves a population of approximately 285,000 people and, in the past seven years, has granted loans totalling over £2 million.
"Simple products like the ones offered by Just Credit are so important to people in rural areas and can help them get jobs, avoid costly lending and provide peace of mind through offering the right insurance," added Will.
"For example, the organisation has used £100,000 of growth fund capital to grant more than £230,000 of small loans - working out £400 on average to people who would not normally have access to mainstream funding and would be forced to use doorstep lenders."
The Rural Financial Inclusion Champion visit was the prelude to a major annual conference due to be held in Shropshire in January.
Mr Aston is responsible for making sure small towns and villages have the same access to essential services as their urban counterparts.