Thanks for the banks

By Kath Gannaway
A CASH injection of $10,000 will help people trying to manage on a low income buy new household appliances.
The Yarra Valley No-Interest Loans Scheme (YVNILS) provides loans for people in the Healesville, Yarra Junction and Upper Yarra areas to buy essential items such as refrigerators, washing machines, dryers, hot water services and, at this time of the year, heaters.
YVNILS is run by Eastern Access Community Health at Yarra Junction.
Co-ordinator Liz McCarthy said the service started in the Yarra Valley earlier this year and that the $10,000 grant from Upper Yarra Community Enterprise Ltd (Yarra Junction and Warburton community bank branches of Bendigo Bank) meant they are in a position to provide a number of loans.
“We know there is a need which is not being met and that some people are not eligible for bank finance so to have this project supported by a community bank is just great,” Ms McCarthy said.
UYCEL secretary Geoff Vickers said the community bank board had been keen to support the project in theYarra Valley.
“We identified the benefit that was being proposed to those people who don’t for a range of reasons have access to conventional finance and decided to provide $10,000,” Mr Vickers said.
Ms McCarthy said the benefit went far beyond the use of the appliances.
“Often the only choice people on low incomes have is for secondhand products. This empowers people – they choose the item, they purchase it, they pay for it … it is theirs,” she said.
Loans of up to $1200 are available with repayments usually between $10 and $40 a fortnight.
The repayments are put back into the YVNILS fund to provide future loans.
For further information on YVNILS phone EACH at Yarra Junction on 5967 2864.