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 home housing residents corporate |
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Rent Difficulties Residents Association
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CREDIT UNIONS Offering safe savings and low cost loans
We have recently been working closely with 'Credit Union' organisations. This is a fast growing financial movement that transforms the way you save and changes the way you borrow. Credit Unions are financial organisations that are run by their owners. They offer savings and great value loans plus they are local, ethical and know what their members want. Each Credit Union has a 'common bond.' This means that the client must have an affiliation with the area before they can apply for a loan. The user must either live in the area they are applying to, or in some cases; it is possible to work within the area to be accepted for a loan. Credit unions request that the client save with them for at least 12 weeks before a loan can be issued. There are several ways to save, such as through a standing order, or paying cash at one of many cash saving points. The loans have very low interest rates. In some circumstances credit unions can offer loans to new members who are on a low income who have not met the normal savings criteria for a credit union loan If you would like to find out more, please contact the numbers below or follow the links WHAT ARE THE BENEFITS? |
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The benefits of joining the credit union include:
Interest rates on loans are very competitive compared with banks and building societies, as the following table from Birmingham credit union Citysave shows.
For more information please visit www.citysave.org.uk or call 0121 303 4013/4075. Source for competitor rates in the above table: www.barclays.co.uk, lloydstsb.co.uk and www.hsbc.co.uk. Figures shown were correct at 06/08. Bank rates shown are an estimate and subject to personal circumstances. Many charge setup or arrangement fees and penalties for clearing your loan off early. All borrowing is subject to status. |
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Birmingham Birmingham Credit Union Shop Birmingham Inner Circle Community Credit Union Ltd Citysave Credit Union North Birmingham Credit Union South East Birmingham Credit Union Ltd |
| Atherstone North Warwickshire Credit Union Shop Kidderminster Kidderminster Credit Union Shop Black Pear Credit Union (Community Hsg Grp) Staffordshire Tamworth Co-op society Fusion Credit Union - Lichfield Sandwell 6 Towns Credit Union Ltd Walsall Walsave Credit Union
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| © Waterloo Housing Association 76-78 Boldmere Rd, Sutton Coldfield, West Midlands, B73 5TJ. Tel: 0121 355 4501/ 4651. |
Life is full of surprises; things like a new baby, a wedding, or even something
routine like a larger than normal heating bill can all be financially tough. To make
the experience less daunting, credit unions help you save and borrow without falling
into the trap of relying on unsuitable loan sharks, or paying extortionate interest
rates. 
