Cornwall’s Community Bank “Best answer to loan sharks” – George

Posted on: 5th August 2013

The MP for West Cornwall, Andrew George, who first brought community banking to Cornwall, supported the opening of the new Penzance Service of Kernow Credit Union (KCU) at The Giving Shop, Wharfside Shopping Centre, Penzance on Monday 5th August 2013.

Kernow Credit Union's Penzance Branch was visited by Andrew George MP

Kernow Credit Union’s Penzance Branch was visited by Andrew George MP

The Penzance branch of Kernow Credit Union is the 16th service point across Cornwall. Mr George hopes members of the community will support it by also becoming a member and save with the Bank. Apart from the standard Savings and Loan accounts, KCU offers Junior Savers accounts for under 16s.

Mr George, who was instrumental in setting up the Cornwall Credit Union Development Project in 1996, said: “I was privileged to become a member of the Penwith Credit Union in July 1999 and subsequently a member of Cornwall Community Banking. Credit unions are a “not for profit” company and can make a strong contribution to communities badly affected by extortionate loan sharks, expensive credit and pay day lenders. I look forward to maintaining this link by becoming a member of Kernow Credit Union.”

Andrew George MP with the Kernow Credit Union team

Andrew George MP with the Kernow Credit Union team outside its Penzance service point

Jon Hayworth, Secretary of Kernow Credit Union, said: “Kernow Credit Union is pleased to be opening a service point in Penzance because it was in Penzance in 1999 that the first community based credit union in Cornwall opened its doors for business. We are pleased to welcome Andrew George as a member as he has been a long term credit union enthusiast. We are sure he will feel at home with the enthusiasts associated with KCU.”

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