Credit Union as an alternative to banks and commercial money lenders

We have been asked about the possibility of a Credit Union in the north of the borough to help those having difficulties with debt or who need to escape the clutches of commercial banks and lenders.

In fact the Labour group did successfully promote the extension of the former Lewisham Plus Credit Union into Bromley.   It’s now known as Sydenham Plus Credit Union with an office working out of Cottmandene Crescent in the Crays operating as Bromley Plus.   For people living in this part of the borough the best option is to go to the Sydenham office at the top of Sydenham High Street – address is 262 Kirkdale.

Branches of the Lewisham Plus Credit Union

We’d have liked to have had an office open in Penge but the Credit Union thought it was better to put a branch at the other end of the borough.  The need for a CU might increase though if the Citizens Advice Bureau is forced to close their Penge Branch – where many local people go for financial advice.   A CU operates under the same conditions as any other charity so there is nothing to prevent them operationg locally if the CU thouight it sustainable.

About pengeandcatorcouncillors

This blog is maintained by Cllr Kathy Bance MBE, Cllr Peter Fookes and Cllr Kevin Brooks, the Labour Party councillors for Penge & Cator ward on Bromley Council.
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