Last updated at 19:50, Thursday, 17 May 2012

A new town centre base for the Cockermouth branch of the Allerdale credit union will open next week.

The union will move to a permanent base using the Riversmeet building in Market Street.

The union offers low-cost loans to members, who are also encouraged to save.

John Bailey, the Allerdale credit union’s development manager, will help to re-launch the Cockermouth branch on Thursday at 11am.

The Cockermouth credit union was set up a couple of weeks before the floods hit in November 2009, but because of the upheaval it never found a permanent base.

It used several sites including the United Reformed Church on Main Street, and its current base at the adult education centre at All Saints School.

Mr Bailey said that was too far out of the town centre.

Membership has grown from seven to more than 80 in 18 months, while a junior savers membership at four local schools has 320 members.

The union will be open on a weekly basis between 11am and 12noon on Thursdays.

After the floods some people used the union to take short term loans to help them get back on their feet, said Mr Bailey.

First published at 19:21, Thursday, 17 May 2012
Published by http://www.timesandstar.co.uk