RESIDENTS of Poole will be interested to learn that it appears that the full amount of money lent to the Coastal Credit Union by the Borough of Poole has been lost. I vividly recall the then Leader Cllr Atkinson advising council what a fantastic thing it was that a credit union was being established and that she had decided to loan it £150,000 of public money. The current Leader Cllr Walton has continued with this carefree use of taxpayers’ funds and has not only allowed the credit union to renegotiate the terms of this debt but lent them further sums as well.

It is quite extraordinary that this organisation is going bust, taking with it nearly a quarter of a million pounds of Poole residents’ money.

For this sum the council could easily have employed an officer to give all benefit recipients in Poole financial advice rather than throwing away public money on a grandiose scheme that sounded good at the time.

At a time when the council is telling us we must merge with others to stave off financial disaster, surely we must look closer to home for the answers first?

Cllr Philip Eades

Branksome West Ward