North East credit union NEFirst is expanding into Sunderland to help residents access affordable financial services.
Sunderland City Council is working in partnership with NEFirst to support residents in accessing savings accounts and family loans based on affordability rather than credit scores, helping people who may struggle to access products from mainstream banks.
The credit union will work with Sunderland City Council’s Financial Inclusion and Illegal Money Lending Teams (IMLT) to support early intervention and reduce the risk of residents falling into crisis or illegal money lending.
Through targeted engagement with schools, family hubs, and community partners, the new partnership aims to help families overcome financial stresses that can contribute to wider pressures such as housing insecurity and poor mental health.
Cllr Michael Mordey, Leader of Sunderland City Council, said:
“I know many of our residents are feeling increasing financial pressure, and tackling exclusion and poverty remains one of our top priorities. That’s why I’m so pleased to be partnering with NEFirst Credit Union to offer a safe, affordable, and accessible alternative for anyone who needs to save or borrow money.
“Through this partnership, we can give residents a trusted option for accessing loans without having to resort to loan sharks, pay day loan companies, and other risky borrowing. It’s an important step in strengthening financial resilience across our city.”
Joanne Angus, CEO of NEFirst Credit Union, said:
“NEFirst Credit Union is delighted to be working in partnership with Sunderland City Council to strengthen access to fair and affordable financial services for residents, employees and businesses across the city.
“This collaboration reflects a shared commitment to tackling financial exclusion and supporting households who may otherwise struggle to access safe and ethical credit. By working together, we can ensure more people have access to responsible lending, savings opportunities and the financial support they need to build resilience for the future.”
As well as backing the NEFirst Credit Union, the council also works to discourage illegal lenders. The IMLT has been working with Credit Unions since 2013, raising awareness of the threats loan sharks present to communities and offering alternatives to help people obtain legal, affordable loans, when needed.
NEFirst Credit Union covers the whole of the North East, including County Durham, Northumberland and Tyne and Wear. Anyone who lives or works in this area is eligible to join.
For more information on NEFirst visit www.nefirstcu.co.uk
