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Credit Union staff trained to spot loan sharks and support victims

Staff at the Credit Union are now more able to help customers in the grip of loan sharks thanks to specialist training.

Loan sharks are unregulated, often give cash loans without any paperwork and charge extortionate interest rates.

The training, run by the England Illegal Money Lending Team, showed Credit Union staff what signs to look out for and how to recognise the symptoms and effects of illegal money lending when dealing with customers, equipping them to deal with these situations appropriately and sensitively.

Credit Union employees are now able to support people who may be at risk from loan sharks, educating them on the dangers, and signposting them to services that can help them further if needed.

Martin Groombridge, Chief Executive of the Credit Union, said: “Loan sharks devastate the most vulnerable people in our communities, causing them to get into financial difficulties and using the most callous methods to enforce their illegal debts.

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