Purpose

Wave
Community Bank (trading name of East Sussex Credit Union) has asked
East Sussex County Council to extend its £150,000 repayable
subordinated loan for ten years, to enable it to assist more
residents in the county facing greatest hardship to deal with
immediate financial issues and build up savings to help them manage
future economic challenges better. The loan was first agreed in
2018 and our agreement is due to end in September 2023.