Credit union for the North East creates new partnership for local workplace opportunities

A North East-focused credit union has teamed up with a major regional employer to provide better money management and workplace-saving opportunities.

NEFirst Credit Union was formed four years ago by the merger of several smaller regional-based Credit Unions which had been providing savings and loan accounts to members for more than two decades.

It is working with County Durham-headquartered property, renewable energy and mining firm The Banks Group to provide new opportunities for over 300 North East employees with the family-owned firm to save and invest within the region and access loans.

NEFirst Credit Union covers County Durham, Northumberland and Tyne & Wear, and has offices in Gateshead, Durham, North Shields and Birtley.

Lou Lightfoot, group HR director at The Banks Group, commented on the news: “It’s widely acknowledged that putting money aside through your payroll is an extremely effective way of building up your savings.

“As a responsible employer, we wanted to extend the provisions we make for allowing our staff to take advantage of this sort of opportunity.

“The fact that the money that NEFirst Credit Union looks after remains within the North East fits with our ‘development with care’ approach of investing in the communities in which our projects are located and was an important additional factor in our decision to set up this new partnership.

“NEFirst Credit Union’s values and clear commitment to the North East very much reflect our own, and their financial expertise will be of great benefit to our employees.”

Sid Rooke, director at NEFirst Credit Union, added: “We are delighted to be working with The Banks Group to encourage the savings habit and offering low cost loans to employees across the North East.”

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