Salford Credit Union, which has 3,800 members across the city, has made £1million available to lend to local people in need of affordable credit due to the pandemic, who may otherwise turn to high-cost lenders.
Salford has joined forces with seven other credit unions across Greater Manchester to launch the Covid-19 recovery plan collectively offering a total of £15m in financial support to millions of people across the region.
Sheila Murtagh, chief executive of Salford Credit Union, says:
“Being a social enterprise means we always put people at the heart of everything we do. This recovery plan is a great example of that. We want to be a part of rebuilding our communities, supporting our people, and lend responsibly. This will also provide a vital boost to our local economy.
“We want to encourage anyone who is struggling financially due to the impact of Covid to speak to us or their community credit union about their borrowing needs. By supporting local people and offering them credit, it will increase spending and keep our economy moving forward, helping all of us to build back better from the impacts being felt by our communities across Greater Manchester due to the Covid-19 pandemic.”