Black Squirrel Credit Union supports efforts to tackle homelessness in North Herts

Tuesday 16 January 2024

North Hertfordshire District Council (NHDC) has awarded Black Squirrel Credit Union a grant of £75,000 to enable it to offer affordable loans to vulnerable residents to help prevent and relieve homelessness in the district.

The funding has been allocated to NHDC by the Ministry of Housing, Communities and Local Government in the form of a ring-fenced homelessness grant. When residents repay the loans, the money is then reinvested back into the scheme, which is scheduled to run until March 2024.

Local Cllr Gary Grindal, said: “Due to the impact of Covid-19, more households are struggling to pay rent or finding it difficult to secure somewhere to live. By providing this grant to the Black Squirrel Credit Union we hope that more households will be able access competitive loans and savings advice, so they can stay in their home. As a knock-on effect, the scheme will also save the council money, for example in costs such as providing temporary accommodation.

“Black Squirrel Credit Union has a proven track record when it comes to helping vulnerable people manage their limited finances and we encourage you to get in touch with them if you need support”.

Bernard Lovewell, Black Squirrel Credit Union Treasurer, said “We are very pleased to be able to continue our successful partnership with NHDC which has helped to prevent homelessness for some hundreds of people over the past 10 years.  Not only is this a cost effective way of providing this service but it enables NHDC to assist many more people.  In our experience many of the people we help in this way go on to enjoy the services we offer members with affordable loans and savings accounts.”