In January 2010 Middlesbrough Partnership supported the launch of Pioneer Credit Union through its work on financial inclusion with key partners including NHS Middlesbrough, Community Ventures Ltd and the Financial Inclusion Champions (supported locally by the Fabrick Group).

The creation of the Pioneer Credit Union followed the merger of four of the town’s existing nine credit unions. The official launch of Pioneer was held on 20 January 2010 in Middlesbrough Town Hall Crypt. Approximately 100 people attended the launch from all sectors of the Partnership.

Credit Unions provide a real alternative to people who are financially excluded, offering low-cost loans and providing a means of helping people to save for the longer term. It is hoped that the new union – motto: Helping people to help themselves – will help residents save money and avoid crippling debt.

Benefits of joining a credit union include:

· Convenient borrowing and saving
· Low cost loans
· Equal opportunity for all
· Dividends on savings, regardless of amount

A poster giving more details on Pioneer is attached to right of this page. A photo gallery of the Pioneer Credit Union Launch is available.

For more information on Pioneer Credit Union or other Credit Unions in Middlesbrough please contact Elaine Gilmour by phone on 01642 230314 or email at elaine.gilmour@cvl.org.uk.