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Cheap loans at county hall.
(From Nottingham Evening Post)
More than 20,000 county council workers will be able to get low-cost loans with the launch of their own credit union.
The finance scheme, open to all county staff and elected members, could potentially earn tens of thousands of pounds a month.
At least 500 members and a fund of GBP16,000 is being aimed at by the end of the first year.
For a minimum deposit of GBP5 a month staff in the Oakleaf Credit Union will be able to borrow up to three times their savings - up to a maximum of GBP3,000. Profits from interest on loans - set at one per cent a month - and the credit union's banking will be shared between all …
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