Community finance is an area growing in popularity as millions of people are struggling to make ends meet. Often if they have a low credit score they find that they are excluded from traditional mainstream financial services and often have to rely on high cost sources of credit from predatory lenders. Additionally, entrepreneurs may be discouraged from setting up or expanding a local business due to not being able to borrow capital. Organisations such as credit unions and community development finance institutions provide responsible credit tailored to their individual needs whilst others also offer business advice to grow and succeed.
Greatfield Big Local partnered with Hull and East Yorkshire Credit Union to help improve the financial capability of residents whilst providing affordable non exploitative credit.