East Lothian Council

Launch of Capital Credit Union service in Prestonpans

Published Friday 24th February 17

shopping banking

A brand new Capital Credit Union counter service is now available in Prestonpans.

The service is be based at the council offices at Aldhammer House in Prestonpans High Street.

Council Leader Willie Innes said:

“This exciting new development has come about thanks to partnership working between the council and Capital Credit Union. As a council, we felt it was important to try to facilitate an alternative banking service for Prestonpans residents, following the very inconvenient closure of the Royal Bank of Scotland branch in the High Street. We lobbied against this move as it means there are no bank branches in Prestonpans despite a growing population. Working with Capital Credit Union has meant that at least local residents have an accessible alternative rather than travelling to other towns to do their banking. The credit union is a different type of financial service. It offers savings, loans and mortgages and other services in an ethical, not-for-profit way. I’m sure this service will be very welcome for Prestonpans residents and I look forward to meeting staff on Tuesday and at our official launch on Monday 13th March.”

Marlene Shiels, Capital Credit Union Chief Executive, said:

"This is a really important partnership between Capital Credit Union and East Lothian Council, which will serve local communities offering access to our full range of saving and loan products. We are committing staff and resources to our Prestonpans office to fill the gap left by mainstream banks as personal and face to face contact is still hugely important in the financial services sector. We already have hundreds of members in East Lothian and links with various employers and we look forward to growing our membership base in the area."

Sandra King, Area Manager for the Preston, Seton, Gosford Area Partnership, said:

“The overarching aim of the Preston Seton Gosford Area Partnership is to reduce inequalities. We also have a goal of enhancing Prestonpans High Street and this move helps us with both of these aims. The Capital Credit Union provides a safe place to save and borrow at competitive rates, regardless of an individual’s economic circumstances. They provide access to products and services for the whole community, but particularly people experiencing financial discrimination and exclusion. Aldhammer House is ideally located on Prestonpans High Street and provides easy access for local people to take advantage of banking services. We see this has a positive step for the community.”

Initially, Capital Credit Union staff will be on hand from 9am until 5pm every Tuesday and Thursday with a view to extending these days in the near future.

 

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