Mendip Housing has teamed up with West Mendip Credit Union to help tenants experiencing financial difficulties.

We already have close ties with the philanthropic financial provider through our anti-poverty strategy. This strategy seeks to tackle the financial exclusion and debt problems that an increasing number of tenants are experiencing.

The new service to tenants aims to:

• encourage people to save
• provide an affordable alternative to the doorstep loan companies that can charge tenants 170 percent APR on the money they borrow
• provide financial services to people unable to get bank accounts, allowing them to enjoy direct debit discounts on utility bills
• provide emergency loans to prevent eviction, and to prevent imprisonment for non-payment of council tax

Through our debt and welfare work we will assess tenants that we believe will gain the most from the work of the Credit Union. You will need to show that you want to solve your debt problems and are committed to getting your finances onto a more orderly footing.

We are particularly pleased that this joint venture with the West Mendip Credit Union means they will be expanding their work into the Frome area.

Credit Unions do not just offer low-cost loans. They also offer people an ethical way to save, not just for those on a low income but also people who want to save in the knowledge that their money is being used to invest in the local community. If you want to find out more about West Mendip Credit Union visit their website here.

If you are a Mendip Housing tenant and think the Credit Union could help you call Income Recovery Manager Terry Pitfield on 01749 334408 or our Debt, Welfare and Benefits Counsellor on 01749 334402 for a further discussion. You can also find out more about our debt and benefit advice service here.