A NEW collection point has been set up for a credit union to help people manage their finances.

Durham County Credit Union has set up the new facility at All Saints Church, Carr House Drive in Newton Hall, Durham, where it will be open from 10.30am to 11.30am on Saturdays to cater for an increasing need for these services in the area.

The credit union is a savings and loans co-operative owned and run by its members. Members are able to save money weekly with a competitive dividend rate no matter how little is saved.

They can also benefit from value fixed rate loans.

Wendy Bradshaw, a director of Durham County Credit Union, who helped set up the new collection point said: "We hope that residents who are finding it hard to make ends meet will turn to the Credit Union for help instead of using doorstep lenders who charge extortionate rates and often cause more problems than they solve."

Durham county councillor Amanda Hopgood, who represents the Newton Hall ward and is a volunteer for the new Collection Point said: "I am delighted that the Credit Union have opened a collection point in Newton Hall.

"Having it on a Saturday means families can save together.

"Many of our new members are parents and their children or grandchildren. We hope that in the future we can also extend the scheme to local schools encouraging our children to save."

Collection points for Durham County Credit Union are located around the County. To find your nearest collection point contact the Secretary of Durham County Credit Union on 0191-375 7677, or go to http://www.durhamcountycu.co.uk/Collection-Points.