WE live in topsy turvy times when a Liberal councillor (Philip Eades) criticises a Conservative administration for seeking to help the poor and marginalised in our community (‘Waste of Money’ August 31).
I helped found Coastal Credit Union and was a director until six years ago.
In its 10 years of operation it helped thousands of people manage their finances better and stay out of the hands of unscrupulous lenders charging exorbitant rates of interest.
In the process it has prevented many social problems which would have been a drain on the Borough’s resources.
Studies elsewhere have shown investment in credit unions pays a handsome social dividend, certainly not ‘a waste of money’.
It was with great sadness that I heard of the credit union’s demise.
We should offer our thanks to the many volunteers who worked so hard to try and help it reach sustainability – not in pursuit of a ‘grandiose scheme’ but instead offering a fair and ethical financial service to some of the most vulnerable in our community.
THE VENERABLE ANTONY MACROW-WOOD
Merriefield Drive, Poole
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