Members of a doomed credit union have been offered a helping hand.
Thousands of people were hit by the sudden collapse of the Castle and Minster Credit Union, based in Huddersfield.
It collapsed last week after hitting major problems, although directors have insisted the savings made by the members will be returned.
Huddersfield MP Barry Sheerman has called for the collapse to be referred to the Financial Conduct Authority, as he is anxious to find out why it failed, having had more than 11,000 members at one stage.
Now a volunteer-led credit union, also operating in parts of Kirklees, is offering to help.
The Borough and Parish Community Credit Union has 300 members in Mirfield and Dewsbury, and has been successfully operating since 1999.
President Kevin Harford has now offered to help Castle and Minster savers.
“We believe there may be members of the union that may want help,” he said. “It may well be we can step in and do something for them.
“We have strict conditions about where our members come from but certainly there could well be people who invested in Castle and Minster who fall under our criteria.
“We are not a big organisation but by the same token, we do not have the same overheads as bigger organisations.
“We are run entirely by volunteers and we have a £3,000 limit on investments and on loans.
“I am sure we can help some people out”.
Mr Harford has a background in local government and was involved with the work of credit unions in Wakefield.
The Borough and Parish Union has a website for people to visit. It is www.boroughandparish.org
