Newham

MoneyWorks opens in Newham

20 January 2016 in Finance
A one stop shop set up by Newham Council to offer residents better deals on financial products as well as help with debts and money management, is now open.
MoneyWorks has been officially opened by Sir Robin Wales, Mayor of Newham and Cllr Frances Clarke, Cabinet Member for Financial Inclusion and Health Promotion. The service is one of the Mayor’s priorities and offers affordable finance and money advice to residents who may be struggling with debt or the everyday cost of living.

The service aims to support residents by building their economic resilience and end their reliance on some finance products that typically come with extortionate lending fees.

At MoneyWorks, residents can get affordable short term loans without the high fees, access to exclusive deals and money saving tips they can trust. MoneyWorks staff will work with residents to address immediate problems so that they are in a much better position financially in the long term.

Sir Robin Wales, Mayor of Newham said: “Last year, I made a promise to residents that I would provide an affordable and ethical alternative to high cost payday lenders. I am proud to be able to offer this unique service which may be a lifeline to those residents who have concerns about their finances.

“I know that there are families surviving on low incomes who are struggling financially. These are tough times and the government’s welfare reforms have taken vital money away from those who need it most. With MoneyWorks, we’re offering people a fairer deal, which could help them change their lives and become more financially independent.”

Newham resident Joy Emovon said: “I enjoyed my first session at MoneyWorks and found the staff very welcoming and friendly. I was impressed that after the session, my adviser called me to arrange a follow-up appointment to discuss how I can manage my money better. I look forward to using MoneyWorks again and think it’s great the shop is located in an idea location inside the Stratford Centre.”

MoneyWorks is open Monday to Friday, from 9am to 4.30pm at Unit 61-62 Stratford Centre . From February, it will be open until 5pm.  For further information, please call 020 8430 2041 or visit www.newhammoneyworks.co.uk