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Tees Valley’s oldest Credit Union opens new Community Bank

South Bank Savings & Credit Union (SBCU), the oldest Credit Union in the Tees Valley, has expanded to new premises on Middlesbrough Road in South Bank.

The firm, which delivers low cost savings and loans to residents of Redcar and Cleveland, was originally based at South Bank’s Neighbourhood Centre and now takes residency in the former Yorkshire Bank premises.

Long-standing volunteers were present at the cutting of the ribbon of the new Community Bank alongside the Mayor of Redcar and Cleveland, Councillor Barry Hunt.

Sandra Smith, project development officer at SBCU, said: “I would like to thank all of our volunteers who have given their time and commitment for the past 26 years to provide this valuable service to the community.

“SBCU is a voluntary organisation, but recently we appointed our first member of staff in December 2015 and today we are proud to open our new Community Bank to everyone who lives or works within Redcar and Cleveland.”

Cllr Barry Hunt, Mayor of Redcar and Cleveland, added: “I was delighted to cut the ribbon for the new premises which will provide savings and loans to the people of our borough. I wish SBCU the best of luck in their new home.”

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