Blackpool, Fylde and Wyre Credit Union has been awarded £50,000 from Foundation to finance interest free loans to help fight fuel poverty in the region.

The money will be used to finance an interest free loan scheme which will be available to those who would like to make energy saving improvements to their home, but are on low wages and may not be able to afford the high one off costs of for example, a new high efficiency boiler.

By using interest free loans to pay for the installation of energy saving measures members will be saving money in the long term. This will in turn steer them away from fuel poverty and enable the money that is saved to be spent on other items which will improve the resident’s quality of life while also supporting local businesses.

The Credit Union will encourage those who take the loans to utilise local businesses by providing information on local suppliers and installers. Beneficiaries of the interest free loans will also be given access to Blackpool Trading Standard’s “Safe and Secure” directory of local traders who have been vetted by local police and subscribe to a code of contact and a dispute resolution scheme.

Mike Barry, Blackpool, Fylde and Wyre Credit Union, said: "Everybody wins and we're delighted to be offering this service."

Mark Turner, Chief Officer of Foundation, said: “We’re delighted to be working with the Blackpool, Fylde and Wyre Credit Union. The scheme they have set up will make a big difference to local people’s lives by providing them with a place to go for help in making energy saving improvements to their homes. These improvements will then in turn reduce their homes carbon emissions and help us to achieve our goal of a lower carbon footprint in the Northwest.”

The Credit Union is currently made up of employees of Blackpool Council, Blackpool, Fylde and Wyre NHS Trust, Blackpool and Fylde College, Blackpool Coastal Housing, Northern Care, AI Claims Solutions, Great Places registered social landlord and the Hilton Hotel Blackpool.