Truro credit union branch 'will benefit Cornwall'

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A new credit union in Truro will benefit all of Cornwall, a senior county councillor says.

The new branch of the Kernow Credit Union is operating two days a week in the City Hall.

The member-owned cooperative offers saving and loan facilities to local people and is an alternative to banks and building societies.

Cornwall Council deputy leader Jeremy Rowe said the new facility was "much needed".

The city has been without a credit union since Cornish Community Banking went into liquidation in February.

Mr Rowe said: "Although it's based in Truro, the key is it will be of great benefit to all of Cornwall at a time when people are struggling with government cuts and the effects recession.

"It's good to have a groundswell of people to put something together to help people, to help the most vulnerable."

The new service is open for three hours on Monday and Wednesday mornings.

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