Kernow Credit Union opening new Truro branch
Kernow Credit Union is to open a branch in Truro.
The member-owned cooperative offers savings and loan facilities to people living and working in Cornwall and is an alternative to banks and building societies.
Initially, the new service point at Truro City Hall will operate for three hours on Monday and Wednesday mornings.
The city has been without a credit union since Cornish Community Banking went into liquidation in February.
"This is a great development for the credit union movement in Cornwall," Kernow volunteer Jenny Kwee said.
With service points across most of the Duchy, Kernow Credit Union's chairman David Bickle said it was becoming an "increasingly valuable and valued service for local people".
He said by giving people access to "reasonable loans at reasonable rates", credit unions were working hard to keep doorstep and payday lenders "at bay", while at the same time supporting and encouraging a saving culture.
The service point in Truro will be opened on Wednesday by local councillor Jeremy Rowe.