A community bank scheme was launched in Wiltshire today providing people with a range of useful financial services.

Wiltshire Council working in partnership with The Wiltshire Credit Union, South Wiltshire Credit Union and West Wilshire Credit Union will launched the scheme at Salisbury Library.

Wiltshire Community Bank provides a range of financial services including affordable credit, savings, standard loans, budgeting accounts and payroll deductions and is regulated by the Financial Services Authority.

Credit Unions are non-profit making co-operatives, where members pool their savings to lend to one another at minimum interest and help to run the credit union in a not-for profit way. To join the Wiltshire Community Bank people must live or work in Wiltshire and will be required to pay a lifelong joining fee of £2.

Once a member, people can start saving as much as they can afford from £1 up to a maximum of £10,000. All savings are secure and protected by the Financial Services Compensation Scheme.

There are no shareholders within the scheme and Wiltshire Community Bank Credit Unions are owned by members. The staff involved are largely volunteers.

Payments can be made into an account in a number of ways including payroll deductions, direct debit, standing order or cash at any of the collection points across the county.

Cllr Christopher Williams, portfolio holder for communities and housing at Wiltshire Council, said: “The Community Bank scheme is a simple and secure way of managing finances effectively.

“If people feel they’re not getting the financial support that suits their circumstances, I encourage them to contact The Wiltshire Community Bank for further information about the range of excellent services and loans available at affordable, lower interest rates.

"This will provide a great service for the people of Wiltshire.”

For more details or to find the nearest collection point, call 01249 248323 or write to Wiltshire Community Bank, North Wilts Credit Union Shop, 60 Redland, Chippenham, SN14 0JB