SAVERS in South Cheshire are to receive a bonus from a pioneering community finance scheme.
Crewe and Nantwich Credit Union (CNCU) has enjoyed a bumper year and, to celebrate passing the £100,000 mark for loans paid out, it is offering members a 1.5% dividend on their savings.
Founded in 2002, CNCU is a non-profit co-operative set up to encourage people to save while offering loans at lower rates of interest than most banks can manage.
The common bond for membership is residency in the Crewe and Nantwich area, meaning it is an organisation designed to suit the district's economy.
Because it is owned by, managed by and run for the people who use the service, it caters for the individual needs of residents.
With interest on small loans as low as 7%, CNCU manager and loans officer Jeff Saville has a right to be confident about its competitive standing.
He said: 'I don't know of any other lender who can match our rates. We still have plenty of spare capacity so would welcome new members who want to borrow from us.
'In the meantime, we are sure that paying a dividend on savings will encourage more people to join and put a little extra into the pot.'
The dividend, to be paid retrospectively for the 2003/04 financial year, will be recommended at CNCU's AGM on April 6.
President Mark Thompson said: 'This is a real milestone in our development. The members have supported the credit union loyally from its very beginning and are now starting to see a return on their investment.'
To find out more about Crewe and Nantwich Credit Union, call 01270 586217.