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People in Poole will soon be able to benefit from a new financial co-operative solely for people who live and work in the Borough. Dolphin Credit Union will allow local people access to a unique service offering loans, savings or financial advice.

Over 100 million members benefit from Credit Unions which are active in over 80 countries throughout the world.

Peter Yeomans, Chairman of The Dolphin Credit Union, said: "This scheme will benefit the whole community as it helps people to take control of their own financial situation. By investing money in the Credit Union you can help build this initiative and in turn it allows you to borrow money at excellent rates. Credit Unions are movements for local people by local people, they are an excellent tool in reducing financial exclusion and I am sure people across Poole will benefit greatly."

The Dolphin Credit Union provides secure savings with a minimum amount of £2 per week. Loan interest is calculated on the reducing balance of the loan and the interest rate is 1% per month which equates to 12.68% APR. Membership of the Credit Union includes free life assurance on loans and double benefits on savings.

Cllr Mrs Annette Brooke MP, said: "The Dolphin Credit Union will provide Poole residents with the framework and stability to help themselves and their neighbours, it also provides everyone in Poole with someone they can trust and that can be relied upon in times of financial difficulty. It means that everyone living or working in Poole has access to a scheme that offers very good rates of interest on loans and on savings. With closures of local bank branches this may prove to be an excellent opportunity for local residents and workers to set up their own financial support network and bring the community closer together."

The event will run from 3.30pm - 7pm and there will be volunteers on hand to explain in detail the benefits of joining, there will also be the opportunity to join-up on the day. Poole Dolphin Credit Union has been two and a half years in the making and has received support from the Borough of Poole as well as UNISON and the Diocese of Salisbury.