A savings and loans facility is to open in a town centre.
Middlesbrough has nine credit unions, providing financial services as part of cooperatives, but their limited opening hours prevent many from accessing them.
In response to the problem, the Credit Union Development Initiative for Middlesbrough (CUDIM) has come up with a new, central collection point.
While the office, at St Mary's Centre, in Corporation Road, will not be a credit union in its own right, it will carry out services on behalf of those already in operation.
From Thursday, people will be able to borrow money, pay off loans and deposit savings, with all transactions being linked by computer to the separate unions.
Nick Bolton, a manager at CUDIM, said the: "The collection point will enable people shopping or working in the town centre to benefit from the excellent savings and loans service credit unions offer."
Credit unions are designed as self-help organisations, allowing people to borrow at minimal interest rates by foregoing profit.
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