Thursday, 11 January 2018

Backing the Bank

I am delighted to see that Northumberland County Council are backing the newly-created Northumberland Community Bank, which will be rolling out across the county in the coming months. 

Northumberland Community Bank was formed in April 2017 by the merger of the Tynedale Community Bank and the Credit Union for South East Northumberland.  Run by volunteers, the banks aim is to offer a community-based alternative and stop people having to go to payday lenders, while reinvesting any profits in community projects. 

One of my biggest achievements as an MP is the creation of the Tynedale Community Bank, which was launched at Hexham Abbey in November 2015 by the Archbishop of York, Dr John Sentamu.  The Bank was created in the aftermath of the collapse of banks across the UK and I am so pleased that the bank is continuing to grow and to help more and more people in need.  Northumberland faces significant financial inclusion challenges that have a huge impact on our most vulnerable and disadvantaged communities, so I welcome the Councils decision to support and invest in the Community Bank and wish the project continued success.