The new Mansfield premises of the Nottingham Credit Union have been opened in Clumber Street.

The credit union was previously housed in part of the advice hub run by Mansfield Citizens Advice Bureau, Regent Street.

The new premises, a former fashion retail outlet, were redecorated with the assistance of the Mansfield BID team, based in the same office block.

Open on Tuesdays, Thursdays and Fridays, from 10am to 2pm, the credit union offers loans and savings plans to people who live or work in Nottinghamshire.

Unlike many financial services companies, the credit union is not focused on making profits, with product prices aimed at covering costs and helping people who need financial support.

Nottinghamshire County Council recently awarded the credit union a £13,500 annual grant for three years to cover staffing costs in Mansfield and Ashfield.

General manager Ella Ferris said: “Christmas is a time that families are under particular financial pressures. I am thrilled that we are able to open our Loan Shop at this time in order to tell ordinary people that we offer a better place to borrow.

“Our low rates are helping local people keep more money in their pockets and build up savings for rainy days. We call it common sense with money.

Ella added: “And thanks to Nottinghamshire County Council and Mansfield District Council we are able to help more people in Mansfield to help themselves.”