Christmas can be the most expensive time of year and it can sometimes be hard to find the money to pay for everything but, if you’re struggling, we can help.
We know from the people we talk to that this Christmas is likely to be harder than most, and for many of us money will be tight. But we would urge people not to turn to high cost lenders, payday loans or expensive credit card debt. The Credit Union offers a range of fair and affordable loans which not only charge lower rates of interest, with no hidden extras, but can help you build up a savings pot for the future.
Low-cost loans
If you need to borrow some money to cover the cost of presents for the kids or food for the family, one of our low-cost loans could be the answer. Whether you need a few hundred pounds or access to larger amounts, by joining the Credit Union you can benefit from one of a range of loans to meet your needs.
With our Saver Loan, for example, you can borrow the amount you need now, while at the same time putting a little bit each month into savings, helping to build up a nest egg for next Christmas and beyond. You can apply for a Saver Loan at any time and, once your loan has been approved and you have joined the Credit Union, all it needs is an opening savings deposit of £50.
Christmas savings
While it may be a little late to start saving for this Christmas, if you open one of our Christmas savings accounts you can start saving straight away, which could make all the difference next year. Just putting a little bit away each week can make a huge difference, and will help you to build up a nest egg to cover the cost of future Christmases.
You can save as little or as much as you like with the Credit Union and there is no minimum level of savings (unless you’re using our Saver Loan). We want to make it as easy as possible for people to save and our members can save by standing order directly from their bank. Employees of organisations that participate in our payroll deduction scheme can even have savings (or loan repayments) deducted directly from their salary.
Credit Union Director Michael Mlilo-Mabaso said: “We realise that this Christmas could be hard for many, but we’re here to help. We would encourage you to contact us sooner rather than later if you need some help with paying for Christmas, so you don’t end up in debt. We will discuss your situation with you to make sure you don’t end up borrowing more than you can afford, and we will encourage you to save for the future. We’re always here for our members – why not join us?”
