More than 16m people in the UK have savings of less than £100 (according to a study by the Money Advice Service).
In Northern Ireland, the West Midlands, Yorkshire and Humber, Wales and **North East England**, more than half the adult population has savings below £100.
Families in such a situation have no protection against even the slightest setback, and the study emphasises the need for us to push (1) for a real living wage and benefits which allow the recipients to do more than simply survive, but also (2) for a societal culture of prudential saving using, if nothing else, a Credit Union.
The NEFirst Credit Union Ltd operates out of St. Clare’s Church, St. Cuthbert’s Way, Newton Aycliffe, DL5 5NT on Thursdays, 10.30-11.30am. Tel: 0330 055 3666 (regional office).
