THE Parks and Walcot Credit Union is proving so successful it is having to turn people away. And according to treasurer Patrick Chaney, the only way to satisfy the demand for its services is to open more centres across east Swindon.

Set up in 1993 and run by volunteers, the non-profit co-operative effectively a bank educates and encourages low-income families to save. The union also sanctions loans, with interest rates as low as one per cent.

Since the union moved to its new offices in Cavendish Square in June, it has witnessed a rush of new clients.

Retired Mr Chaney, 69, explained: "We have been so successful that people come here looking to join, but we have to turn them away.

"At the moment we only accept people who live in Parks and Walcot, which means we can't help those living in Covingham, Liden and Nythe in the east of Swindon.

"I'd like to provide a service to those people I can't see how it wouldn't work. A lot of people around here need help and guidance with money. The less a person has the better they need to be at managing it that's where we try and educate people.

"Some people say they have never saved money before."

Since the credit union was set up in 1993 it has notched up more than 1,000 customers and currently has £120,000 saved with it.

Individuals pay a £1 joining fee and can deposit anything up to £5,000.

The union has loaned around £500,000, but has written off only £3,000 in bad debt. "That's not bad for one of the country's most deprived areas," Mr Chaney said.

"It's a poor area with lots of people on low incomes and benefits, but we encourage people to save and handle their money better."

The union, which is regulated by the Financial Services Authority, will now undertake a feasibility study to identify the need in east Swindon.