Decision details

Part 3, Schedule 3 – Responsibility for Executive Functions delegated to Officers paragraph 4.3 (1) – the Corporate Director has delegated authority to discharge executive functions within their respective service areas (Part 3.38). All delegations are subject to consultation where considered appropriate in the circumstances (paragraph 4.3 (4(ii) – Part 3.39). The Corporate Director Paul Price, Operational Services, has delegated operational matters relating to the provision of a crisis loan facility for Council Housing Tenants to the Head of Housing.

Cabinet, at its meeting on 28 February 2014, undertook to support and promote Colchester Credit Union and to pay all new savers joining fees for those who live, work or study in the Tendring district. It was also agreed that the sum of £5000 would be ring fenced within the HRA budget to provide affordable loans to Tendring District Council housing tenants. However, despite promotion at the time, no loan has been paid using the capital ring fenced. It is now proposed to use the £5000 as capital to provide a crisis loan facility to Tendring District Council housing tenants. By making this provision available, it will steer those tenants who are deemed to have an urgent need of financial assistance away from disreputable lenders and who are unlikely to obtain this service from traditional banks, building societies, or other reputable and affordable sources.

There is minimal risk to Tendring District Council as the operational aspects of the Instant Crisis Loan scheme will be administered by the Colchester Credit Union and it is already an established organisation. It is also considered likely that the financial liabilities for Tendring District Council will be minimal.