Speaker: Maria Drury

About: South East London Economic Development Agency

Credit Union is a financial co-operative. There to combat social exclusion and stimulate economic development. Improves peoples' quality of life. But, it is not a poor mans bank, we need money from people who have it to help lend to others who don't. Kids in primary school are more keen to save than adults; skilling them from an early age and creating good saving habits. Affordable loans at 1% on a reducing balance. If you pay back a year-long loan in 6 months, you wont be penalised. The Credit Union has a Supervisory committee and credit committee. It is regulated by the Financial Services Authority: creates a lot more professionalism.The Union Covers Deptford, New Cross and Brockley. We set up small loan facilities for small businesses. Small businesses save their annual tax obligations with the credit union (now they take loans out with it (loans must be matched with savings). As a business, the credit union does too much for nothing but this has become part of the heart.

From the initial Credit Union idea, people approached me to help with setting up other projects. We help start projects and then get them to be independent. Timebank: rewards participation, everyone has something they can do, everyone is equal (1 hour is an hour equivalent); everyone wants to give not receive back, some associations have become members; a paid "connector" to run the project is very important: need someone who can assist face-to-face. There has been Poetry and "healthy walks" groups.

Food Co-op on the Pepys Estate: provide good, fresh affordable goods. It is a long walk to the supermarket, so we started looking for an alternative. One criteria was "less mileage for the food"; found farm in Orpington, good quality, free delivery, has farm in Spain; the food is not organic but uses natural processes to encourage aphids. Once going, the food co-op needed to ring round to keep orders up, internet ordering worked out OK; now we have a warehouse facility on the estate, burn-out from the volunteers, sometimes a market stall in the community centre (bulk makes it cheaper). Example of savings: Spinach 90p, while at Borough Market, the same spinach is priced at 220p.

Allotments: came out of the food co-op; time bankers came to work the allotments first, now there is a gardening group; community gardens edible, sensory, high level (2 years to get 8,000 grant funding), community asset, schools will be able to use it, yard allotments, maybe the produce can be sold to the food co-op or café. Eating for Health Partnership with NHS, encouraging community to look at the food they eat; how can I cook in a different way that’s just as nice, encouraging a balanced diet; try PARNSIP and pear cake. Sit, socialise, eat, tell me what they want next week; 4 years to 79 years attend; Group of 70 year-olds now cooking for each other. Grove Community café: tri-party management Training for local people; one person started as a volunteer through the time bank, now has full time work elsewhere. Brings all the community in to the centre.

Currently SELEDA is reviewing all its projects, with the lean financial times, all the projects (except the credit union) have an uncertain future. Being approached by community for new projects But only 2 people in paid employment that can do stuff. There to respond to requests from the local community. Health and Wealth of the community is ourmotto.