Council to invest in credit union

17:04 19 November 2012

Exmouth Town Council is set to invest £2,500 from its cash reserves in the Plough and Share credit union.

The move will cost the council around £50 a year in interest compared to a regular savings account, but members of the council’s finance committee decided that the benefits of investing in the credit union for the community outweighed the loss of interest, or concerns about the risk involved.

Deputy chairman of the committee, Councillor Trevor Cope, said: “[This investment] means we’re supporting an organisation dealing with the needy in our town.

“People are needing support and I think that credit unions are a way of assisting with that, and investing £2,500 may get more organisations interested in that.”

The committee’s decision will now need to be ratified by the full town council before it goes ahead.

0 comments

Other News Stories

18:41
Scenes from North Devon Relay for Life 2015 at Barnstaple Rugby Club. Picture: @tidyeyepr

Best feet forward at annual Cancer Research UK fundraiser in Barnstaple...

Read more
17:36
The Oldenburg alongside the pier in Ilfracombe

Casualty believed to be working around the MS Oldenburg when he fell

Read more

The surgery will be contacting all of its patients over the next six weeks who are current year 13 students, and who will be 18 by Monday, August 31, to have the Men ACWY vaccine.

Read more

Six fire crews called out to fire at caravan park in Woolacombe where three casualties are being treated by ambulance personel.

Read more
Michael Caines joined staff, trustees and guests at Devon in Sight this week. Ref ext 5638-30-15SH. Picture: Simon Horn

A Topsham sight-loss charity is hoping it can offer more support to those who need its help following a relaunch event.

Read more
The broken down lorry in Bideford. Pictures: Graham Hobbs

A lorry has broken down outside of Bideford Police Station causing traffic build ups along Bideford Quay.

Read more
15:32
Exeter Crown Court

Gary Henry, 54, receives prison for defrauding elderly customers

Read more
15:30
Water Babes at Axminster's Flamingo Pool Picture: CHRIS CARSON

Swimming tots dress as pirates to raise money for Tommy’s, the baby charity

Read more

A woman was taken to North Devon District Hospital after trailer ran her over in Mortehoe.

Read more

High tides this evening (Monday) prompt flood alert from Environment Agency.

Read more

Local Weather

Overcast

Overcast

max temp: 19°C

min temp: 11°C

Most Read News

Great British Life


Great British Life

Family Notices 24



Devon's trusted business finder