The council’s cabinet member for finance has joined Wave Community Bank as its newest member.
Labour councillor Jacob Taylor, who is also the deputy leader of Brighton and Hove City Council, said: “My role overseeing the council’s £1 billion a year budget involves some big financial decisions.
“But it would be impossible to overestimate the value of Wave Community Bank which helps hundreds of people in our community with their savings and borrowings and their own big decisions.”
The council and Wave Community Bank have worked in partnership for many years to support residents across Brighton and Hove.
Their work has included collaborating on the Deposit Guarantee Scheme, helping people access private rented accommodation.
And Wave is also involved in the Advice and Financial Inclusion Partnership, funded by the council, which provides money advice and financial support to people locally.
The council is also an employer partner of Wave Community Bank’s Chorus Workplace Savings Scheme, enabling council employees to save and repay loans directly from their wages.
The scheme has helped hundreds of employees build their savings and borrow affordably.
Councillor Taylor added: “I’m pleased to support our local credit union and encourage others to do the same.
“Wave Community Bank helps many of the city’s residents, bringing fair, accessible financial services to them.”
The credit union’s chief executive Ann Hickey said: “I’m really pleased Councillor Jacob Taylor has joined Wave Community Bank as a member.
“Brighton and Hove City Council is one of our greatest supporters and we look forward to building on this partnership long into the future.”
