TREASURY Minister Ruth Kelly has praised a unique Bolton initiative which aims to tackle poverty and debt.

Bolton Council and various other organisations combined in May to form the Bolton Community Finance Partnership -- an organisation which seeks to help disadvantaged people gain access to financial services which others take for granted.

Activities include a Bolton money skills service to help people who need advice and the establishment of a borough-wide Credit Union organisation.

Credit Unions are organisations where local people band together to create a savings and loans service independent of mainstream banks and building societies. They not not only offer people access to cheap small loans, but help and encourage people to save on a regular basis.

The Minister, who is also MP for Bolton West, said: "Here in Bolton there are estates where there are still too few jobs, too much crime and where financial services too often mean benefit cheques, pawn shops and illegal loan sharks.

"People in these communities can very often get locked into the cash economy, cannot get affordable property or contents insurance, can only access credit at unbelievably high rates and do not use mainstream savings opportunities."

Access to basic financial services was a vital part of bringing people back into the mainstream of society.

She described the Bolton scheme as "an important step forward" and declared: "I hope Bolton will not stay unique.

"I hope that by showing what can be done other communities will follow Bolton's lead."

The partnership, which is chaired by Cllr John Byrne, includes representatives of Bolton Citizens' Advice Bureau, Bolton Community Voluntary Service, Bolton and Bury Chamber, Co-operative Bank, Bolton Council, Bolton Community Homes Ltd, Bolton Business Ventures, Bolton Community Legal Partnership, Bolton Strategic Economic Partnership, local credit unions and the Bolton Affiliation of Tenant Residents Associations.

More information on the BCFP is available from Susan Curran on 01204 331504 or you can e-mail: susan.curran@bolton.gov.uk