Credit unions in Cornwall are to work with the council in a bid to reduce the number of people using loan sharks.
It is estimated 20% of people in the county have an income too low for them to be able to use mainstream lenders.
The county's average household debt is about £9,000 before mortgages, the Citizen's Advice Bureau said.
Cornish Community Banking, Kerrier and the Fal Credit Union, SECCURE Credit Union and North Cornwall Credit Union will join forces with Cornwall Council.
The council said it wanted to ensure everyone in the county had access to fair and ethical financial services.
Credit unions are run by members with everyone paying money into a common fund, which they can then withdraw and borrow from.