A GOVERNMENT minister praised the work of a Merseyside credit union that helps low income families manage their budgets.

Kitty Ussher MP, Parliamentary under-secretary at the Department for Work and Pensions, said Toxteth’s Park Road Community Credit Union had helped the local community avoid paying £900,000 in interest to loan sharks and doorstep lenders.

Since opening in 1989, it has arranged almost 1,500 loans totalling over £830,000.

Mrs Ussher was in Liverpool yesterday to address the Northern Financial Inclusion conference. She met Park Road Union members Donna O’Rourke, 40, and Ruth Gorman, 36.

Mother-of-two Mrs O’Rourke borrowed money from a loan shark before finding out about the credit union. She is still a member eight years on.

She said: “If you get a loan today off a shark for £100, they would charge £60. Now I don’t have to lock my door or hide from people.”

As well as paying back loans to the credit union, Mrs O’Rourke also saves a portion of her money with it.

Mrs Ussher urged families struggling with money to avoid loan sharks and door step lenders.

She said: “It’s heartbreaking if the only place someone can go is either the regulated but very expensive people like Provident Financial – who charge up to 240% [equivalent annual interest] – or the illegal loan sharks.”