New credit union offers lifeline for those struggling in Redditch

“EVERYONE – unless they’re very privileged – has had to scrape together 20 pence pieces to buy a loaf of bread at some stage of their life.”
That’s the verdict of Shannon Gawn of Link Credit Union which has just opened at the Ecumenical Centre in Redditch town centre.
The credit union offers a lifeline for those struggling to save or just keep their heads above water by offering loans at reasonable rates and accounts to put money away for a rainy day – while for savers it offers highly attractive interest rates.
And crucially Shannon knows how tough life can be and how thin the divide between getting by and falling behind.
“It takes a lot of courage for some people to admit they have no money and they are in debt – some people are ashamed they are on benefits – but they can talk to me, I’m not a suit, I’m a normal person and not intimidating in any way.”
The credit union, run through 6Towns, opened in Redditch earlier this year in Winyates and Church Hill and recently moved into the town centre thanks to the Reverend Steve Levett of Emmanuel Church who was inspired during the Archbishop of Canterbury’s visit to Redditch.
The Archbishop, Justin Welby, has been at the forefront of the fight against loan sharks charging hard up people extortionate interest on loans.
His ‘War on Wonga’ attracted national publicity and to the Rev Levett it seemed appropriate the Ecumenical Centre should be part of that fight.
Figures produced by 6Towns show that £100 borrowed over one month would cost an extra £36.85 to repay through Wonga and just £2.01 with 6Towns.
Crucially, 6Towns does not require photo ID or even an address which makes it possible for the homeless to open an account, as long as they have a letter of support from their shelter or the charity Night Stop.
“This means they can apply for a job because they have a bank account,” said Shannon.
She can also help filling in forms and can set up bill payment schemes to give families peace of mind.
“Now that I’m in the town centre hopefully I’m a lot more accessible for people to come in and see,” she said.
The credit union is on the second floor at the Ecumenical Centre on Thursdays from 9.30am to 12.30pm and no appointment is necessary.