Community bank launches Cowdenbeath collection point

Kingdom Community Bank, Fife’s largest credit union, launched a new Cowdenbeath collection point at the Maxwell Centre today (Thursday).

The launch, which coincides with Challenge Poverty Week, will further extend Kingdom’s aim to offer everyone in the local community a stake in their own ethical bank, and access to affordable loans, secure savings and other financial services.

The new collection point will run every Thursday between 11am and 1pm.

John Hendrie, CEO, Kingdom Community Bank said: “We have been looking to bring our services to the people of Cowdenbeath for some time.

“We are delighted that it has finally happened and we would like to thank Fife Council for providing us with such an excellent facility at the Maxwell Centre.”

To mark Kingdom Community Bank’s support for Challenge Poverty Week, free membership is being made available for all who sign up as a new member during the week.

Challenge Poverty Week also offers people a chance to highlight the injustice of poverty in Scotland, and to celebrate the people and projects that are standing together against it in different ways.

Welcoming the launch of the new collection point, Lesley Laird, MP for Kirkcaldy and Cowdenbeath,  commented: “Credit unions play a significant role in reducing poverty, especially for people on lower wages struggling with their household budget.

“They’re a means of helping all members to manage their finances more effectively with careful saving and affordable borrowing and many customers have been guided out of a maze of debt thanks to their services.

“Our communities across the Kingdom have experienced a significant upsurge in poverty over the past year, mainly due to the introduction of Universal Credit.

“Sanctions and delayed payments, often extending for five weeks or more, have left many vulnerable people in an even more desperate situation.

“Until the government changes that situation, it’s a comfort to know that services such as Kingdom Community bank are doing all they can to help people in financial difficulty.”

Gary Daniell, Community Development Team Manager at Fife Council added: “Fife Council are delighted to welcome Kingdom Community Bank’s new collection point in the Maxwell Centre, particularly during Challenge Poverty Week.

“The operation of a credit union is a welcome addition to the wide range of community groups, activities and programmes operating from the centre and we look forward to welcoming people from the communities of the Cowdenbeath area accessing the service.”

Loans from Kingdom Community Bank can be tailored to each individuals’ circumstances and come with no hidden fees, charges or penalties for early repayment, often making them a much better option than other lenders.

Savings are also protected up to a total of £85,000 by the Financial Services Compensation Scheme.  More information on Kingdom Community Bank can be found at its website on www.kingdomcb.org.uk.

Pictured (l-r) are: Bruce Milne, KCB volunteer, Sofia Dogan, Development Officer for Fife Credit Unions, Jim Young, Director KCB, Lesley Laird MP, Gary Daniell, Community Development Team Manager, Fife Council and John Hendrie, CEO of Kingdom Community Bank.