Pennine Community Credit Union has today been awarded a £50,000 grant to help buy a property in Burnley town centre to support its growth.
Pennine Community Credit Union offers savings accounts and affordable loans to those living or working in Burnley, Pendle, Ribble Valley, Rossendale, Hyndburn or Blackburn.
The money from Lloyds Banking Group will help the credit union to offer more lending to more members in the local community.
A spokesman for the Credit Union said: “Pennine Community Credit Union is thrilled to have received the Lloyds Foundation funding to help renovate a newly acquired town centre property.
“This will bring PCCU onto Burnley high street showcasing us as a real alternative to the pay weekly stores and money shops.”
Pennine Community Credit Union is among 21 Credit Unions across the country that are benefitting from £1m. in grants from Lloyds Banking Group, delivered through the Credit Union Foundation.
Pennine Community Credit Union chief executive Kathryn Fogg said: “We are thrilled to have received the Lloyds Foundation funding. This grant allows us to operate a branch within SPE Furnishings, on Briercliffe Road, and employ an additional member of staff to offer a real alternative to the pay weekly stores.
"It will also help Pennine to renovate a newly acquired town centre property. This will bring PCCU onto 'Burnley High Street' showcasing us to the local community as an alternative to high interest lenders.”