PEOPLE in Hartlepool are being invited to prove they are money-wise by cashing in on a new community initiative.

Moneywise Community Banking, in Avenue Road, is being supported by the town's New Deal for Communities (NDC) programme and hopes to open in June.

The bank, which is part of Hartlepool Credit Union Limited, hopes to make its services more accessible to thousands of residents and help those who are struggling to cope financially.

Moneywise Community Banking will complement the money advice and debt counselling service already being offered by Hartlepool Citizens' Advice Bureau.

Benefits the community bank will offer include a low interest rate on loans, no hidden charges, flexible savings and loans, an annual dividend on savings and free life insurance on savings and loans.