Wiltshire Community Bank scheme launched

A community bank scheme aimed at helping people avoid loan sharks and high interest rates has been launched in Wiltshire.

The not-for-profit project, called Wiltshire Community Bank, is open to people who live or work in the county.

It has been set up by Wiltshire Council in partnership with three existing local credit unions.

Councillor Christopher Williams said the scheme was "a simple and secure way of managing finances effectively".

"This will provide a great service for the people of Wiltshire," he added.

Members who join the bank will pool their savings, up to a maximum of £10,000, to lend to one another at low interest rates.