Blue Monday, the most depressing day of the year when people begin to understand their level of household debt after Christmas, fell on January 19.

On a happier note, it also marked the first anniversary of Kent’s first church-based community bank opening its doors.

Operating from All Saints’ Church in Murston, it was created by Kent Savers Credit Union, in partnership with the Diocese of Canterbury, to provide struggling families with loans and savings accounts.

The system allows members to pay into a not-for-profit organisation which then invests cash and lends it back to people when they are in need.

Credit unions cannot legally charge more than 26.8% interest annually, and it is hoped they will tempt people away from taking out pay-day loans, some of which have rates of more than 5,000%.

Since launching, the scheme has grown and no longer just offers financial services.

Instead it has become a ‘community hub’, offering people access to a variety of services such as weekly Citizens Advice Bureau clinics, a drop-in community police surgery, job clinics, a cafe, free wifi and other resources.

To mark its the anniversary the Mayor and Mayoress of Swale Cllr George Bobbin and his wife Brenda were invited to the bank to see it in action along with volunteers and partners.

Rev Lesley Jones, assistant curate and project coordinator, said: “We are working together to provide debt advice, practical support, and through the community bank and Kent Savers, access to lower-cost credit.

“We’re helping people to save and are even supporting our local junior school students to gain money management skills.”

Of Kent Savers 2,150 members, 293 of them live in Swale and 164 of these have joined directly at the church.

The focus has also been to try and help people in other ways by signposting them to community resources such as furniture recycling and the Citizens Advice Bureau.

For details on the project drop-in any morning between 10am and noon or contact Rev Jones on 01795 484297 or email murston@kentsavers.co.uk