Liberal Democrat Council boosts York Credit Union
May 6, 2008 4:05 PM
The Liberal Democrat Executive agreed at its meeting today to give York Credit Union the £7,100 remaining from City Strategy voluntary sector grants budget for the 2008/09 financial year.
Liberal Democrat Councillors thought it appropriate and worthwhile to support York Credit Union due to the current economic situation and impact of the credit crunch.
Cllr Ceredig Jamieson-Ball, Liberal Democrat Executive Member for Corporate Services, said: "At this moment in time we felt it right to give this funding from the voluntary sector grants budget to the York Credit Union. This organisation is a huge help to many York residents who are fearful of getting into debt with commercial loans which charge high rates of interest.
"The credit crisis has been made worse still by the Government's punishing 10p tax rate. This, along with the increased cost of living, makes voluntary organisations like York Credit Union incredibly worthwhile, and I am therefore delighted that we have been able to help this valuable organisation
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