A NEW credit union is being launched to help people in Middlesbrough avert the dangers of loan sharks.

The creation of the Pioneer Credit Union follows the merger of four of the towns nine existing unions.

Pioneer is being officially launched on Wednesday in the Crypt at Middlesbrough Town Hall.

The scheme is being supported by the Middlesbrough Partnership and Chairman Les Southerton said: "These are tough times for everybody and money can be hard to come by, even for essentials.

"Thats when people are most vulnerable to the lure of easy credit, and the perils of unscrupulous loan sharks whose activities have made recent headlines.

"Credit unions have a proven track record of helping people save and borrow safely, with the emphasis on mutual aid and community support rather than profit."

Anyone wanting to attend the launch meeting is asked to contact Elaine Gilmour on 01642-230314.