People Involved: Michael Knight

Partners: Riverside Credit Union

URLs related to this project: www.riversidecreditunion.co.uk

Where is the need for this project?

It is expensive to be poor. People who cannot access basic banking facilities because they lack comprehensive documentation or employment records pay more for other basic services. Often, this pushes them towards loan sharks and predatory lenders and prevents them from building savings and financial literacy.

Where do you hope this project can go?

Riverside Credit Union (Riverside) exists to tackle this problem. Riverside was established over twenty years ago by residents of England’s most deprived council ward in Speke, Liverpool. It provides a supportive alternative to predatory lenders, helping people to manage their money for the long-term. Riverside provides the people of Speke access to a range of banking services on fair and manageable terms. With a growing membership of over 5,000 in a ward with a population of 15,000, the credit union has huge reach and impact in the community.