Rory Stewart MP on Friday met with staff of the EdenSave Credit Union
at their office in the Devonshire Arcade in Penrith, where he found
out about the new membership-based savings and loan facility catering
to Eden’s residents. The Union was launched in October 2013, and
currently has deposits totalling in excess of 150,000 pounds. It aims
to promote a habit of regular savings among its members as well as
helping those unable to access bank loans in more traditional ways.
The local MP made a one-off personal deposit into the Credit Union.

Rory said: “EdenSave Credit Union fulfils a really important function
in our local community, where we are increasingly hearing that people
are finding it difficult to access loans via conventional banks. More
crucially, it is local money being invested and spent locally.
Trusting in the strength of our local economy is extremely important,
and this is a theme I am also working on in my Cumbria Business
Investment Fund; but on a smaller scale, I encourage people to get
involved in the EdenSave project as a really great way to save and at
the same time encourage that the Penrith pound remains in Penrith.”

Staffed by volunteers, EdenSave has opened four offices across the
district at Alston, Appleby, Kirkby Stephen and Penrith. Staff are
pleased to welcome anyone who wishes to call in and find out more. The
Union is in particular encouraging loans, which are competitively
priced, such as the Immediate Loan of up to £500 or the Savings Loan of
up to £2000. These and other loans are typically available within 7
working days subject to a member’s ability to repay. Details in full
are available at

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