Credit union for Skegness

An ethical lender is opening in Skegness next month, offering a range of services to help people in financial difficulty.

The Lincolnshire Credit Union is opening 15 not-for-profit ‘LincUp’ centres across the county including one, operating one day a week from the Storehouse, North Parade.

Skegness Ctizens Advice Bureau has recommended the service to debt-ridden residents as a safer route out of financial difficulty than payday loan companies.

Branch manager Sue Waltham said: “We look forward to having a credit union operating in Skegness because it complements our own debt advice for clients. We help them consolidate their debts and work out an action plan, LincUp helps them manage their budgets, provides a manageable low-cost loan and raises their credit-rating.”

The service, initially run by trained volunteers, will specialise in supporting people with difficulties managing their finances who cannot open bank accounts.

LincUp’s Start Accounts, operate like a bank account, which employers can pay into and the holder can pay standing orders and online bills.

The introduction of monthly, rather than fortnightly welfare payments in April is anticipated to see a significant rise in Start Up accounts, as more people struggle to make their finances last.

For more advice visit the CAB on Algitha Road,