FAIRshare launches in the Three Parishes

There were celebrations in Weston Rhyn & St Martins last week at the opening of new FAIRshare Service Points in the villages.  In association with the Three Parishes Big Local Partnership, FAIRshare will visit the St Martins Centre every Tuesday morning from 9.30am – 11.30am and the Weston Rhyn Institute from 12noon to 2pm.  A further Service Point is launching in Gobowen – from 3rd March 2015 FAIRshare will be at the Gobowen Scout Hut Hall from 2.30pm – 4.30pm every Tuesday.

Pictured, shaking hands on a lasting partnership are from left, John Harrower, FAIRshare’s General Manager, and Nick Heard, Chairman of the Three Parishes Big Local Partnership.  John Harrower, FAIRshare’s General Manager, said “We are very excited to be working with the Three Parishes Big Local Partnership to bring our services to everyone in the community.”

FAIRshare Credit Union is a friendly, not-for-profit ‘community bank’ for anyone who lives, works or studies in Shropshire, offering a secure home for savings and the option to access affordable low cost loans. As part of the association with the Three Parishes Big Local Partnership, FAIRshare will also be providing free budgeting support & debt advice signposting.

FAIRshare Credit Union offers savers the opportunity to invest in their local community. Regular savings create a “pool of money” which is used to give regular savers access to low cost loans from £50 to £7500 over anything from a few weeks up to 5 years. Interest charges from only 0.83% per month (10.47% APR) are calculated on the reducing balance – not the original loan value – and the amount you can borrow is based on your income and expenditure. There are no arrangement fees and no penalties for early repayment, and loans are covered by free life insurance for peace of mind.

FAIRshare members have access to flexible, low cost loans from £50 to £7500 borrowed over anything from a few weeks up to 5 years. Interest charges from only 0.83% per month (10.47% APR) are calculated on the reducing balance – not the original loan value – and the amount borrowed is based on income and expenditure. There are no arrangement fees and no penalties for early repayment, and loans are covered by free life insurance for peace of mind. A FAIRshare loan can be more than 25 times cheaper than a doorstep lender and 100 times cheaper than pay day lenders.

FAIRshare also offers business & community membership to Shropshire based clubs, societies, associations, businesses & charities, offering a local, safe, ethical home for funds. Businesses and community groups can apply for business loans up to the value of £15,000, to be repaid over a maximum of 5 years.

Like any bank or building society, FAIRshare is authorised & regulated by the Financial Conduct Authority & the Prudential Regulation Authority. Members’ savings are protected by the Financial Services Compensation Scheme, currently to the value of £85,000. FAIRshare is Shropshire’s largest credit union with main branches at Telford & Shrewsbury.

The Three Parishes Big Local Partnership covers Weston Rhyn, St Martins and Gobowen, and is one of 150 Big Local programmes around the country.  Each Big Local area has been allocated at least £1 million to make a massive and lasting positive difference to their communities.  Big Local is about bringing together all the local talent, ambitions, skills and energy from individuals, groups and organisations who want to make their area an even better place to live.  Big Local is being run by Local Trust, which is working with £200m from the Big Lottery Fund and a range of partners providing expert advice and support for residents.  For more information please visit www.big-local.org.