A COMMUNITY bank in Milford Haven has been awarded £5,000 by the Big Lottery Fund to help it run a door-to-door service encouraging people to save for a rainy day.

Haven Credit Union currently helps people across Pembrokeshire establish savings accounts, and offers secure, affordable loans.

But thanks to the Big Lottery’s Awards for All scheme, it will now be able to extend its service to people in their own homes, and explain how credit unions can help them.

Ness Davies, of Haven Credit Union, said: “We are aware that many people are heavily dependent on estate-based door-to-door lenders - that charge extremely high interest rates.

“This new project of ours, called The Reaching Out Project, will allow us to take the credit union out to communities for the first time.

“We will provide information in people's own homes, and sign up new members who wish to join.

“We hope this will overcome some of the barriers that prevent people from joining.

“We are indebted to The Big Lottery for their support, especially at this time of industry closure and job losses in the area - we know the credit union can make all the difference to people who are struggling to get out of debt and make ends meet."

Haven Credit Union currently has 1,200 members, of which around 400 are classed as ‘financially excluded’ – meaning they find it difficult to get credit elsewhere.

It aims to offer a safe, local alternative to loan sharks and payday lenders.

This latest funding announcement sees £280,000 being handed out by the Big Lottery to 70 projects across Wales.

Gareth Williams, Awards for All programme manager, said the money was having a positive impact throughout Wales and helping to build stronger communities.