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Potters' Bank, which is part of Just Credit Union, already established over the border in Shropshire, is to offer employee savings schemes to help people who have ended up on the brink of financial crisis to build some resilience. "We need to drive the loan sharks out of town," he said. "It's one thing to do it legally, through the legal process, but the other way to do it is to drive them out of business, and to provide a safe alternative." The idea is that residents within the ST postcode can open savings, and loans accounts, with a "sensible" interest rate of just a few percent per year. The people for whom it is designed are those who need money quickly to cover an emergency bill, perhaps involving a broken-down household item, but do not have a good credit rating, particularly if they have fallen foul of unscrupulous lenders previously. The service will be available online, or through the city community lounges around the area. Advice on where to go for those struggling with debt in Stoke-on-Trent can be found here. BBC Action Line also offers information here.
