A funding agreement using the Councils
standard Terms and conditions which protects the interests of the
Council and ensures the objects agreed are met was drawn and signed
by both parties on 6 November 2018.
Following which as agreed by Cabinet a One-off payment of
£50,000 was made to to Darlington Credit union in return for
a deferred shareholding to strengthen capital balances .
To affect the decision made by Cabinet which was to draw up a
funding agreement securing the objectives and protect the interests
of the Council.