A credit union for the Durham area has opened its first collection point in a former pit village.

People can join the Durham City and District Credit Union and make deposits at Community House, Holly Park, Ushaw Moor, on Wednesdays between 10am and 11.30am.

The union plans to open further collection points, including one in the centre of Durham.

Anyone who lives or works in the Durham City district can join the community-run co-operative which offers basic banking and financial services.

The credit union can pay a dividend to savers and will offer loans to members at a monthly rate of no more than one per cent, or 12.68 per cent annually.

One of the main aims of the union is providing banking and affordable credit to people who might otherwise have to take out loans at high rates.

Tony Tribe, of the union's compliance committee, said the organising committee hoped to establish a further two collection points in the organisation's first year.

"We had quite a useful first morning. We had four or five new members and a guy following up a report on the credit union in The Northern Echo on Saturday joined as a volunteer.

"We have probably got about 40 members now. We want to start slowly and build up, let the word get around.''

Anyone who would like to volunteer and or join the union can call Mr Tribe, on 0191-384 9133, for details.