Money Matters

We know that a change in circumstances can sometimes make our members struggle to make repayments on their loan. We have helped many members when a life event happens.

It is important that you contact us straight away if you can't pay your loan repayment. It is better to talk to us as soon as you can, so do not be embarrassed about contacting us.

Before you consider alternative routes such as Debt Relief Orders, Debt management plans or IVAs, which could have a detrimental effect on your credit rating and financial well being, we strongly encourage members who are in financial hardship to contact us directly to discuss the options available to you and how we can support you.

Tel - 01706 215082

If you can answer yes to one or more of these questions you might be borrowing from a loan shark:

• Did they offer you a cash loan?

• Did they not give you paperwork?

• Did they add huge amounts of interest or APR to your loan?

• Have they threatened you?

• Are you scared of people finding out?

• Have they taken your bank card, benefit card, passport, watch or other valuables from you?

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With our Loans members are expected to save a minimum of £2 per week which is fixed against your loan balance and can only be accessed once you’ve fully repaid your loan or if your loan balance is lower than your savings you will be allowed to take out the difference. You are welcome to save extra for holidays, Christmas or special occasions in a separate savings account which can be accessed at any time providing your loan is not in arrears.

​Saving as you borrow means that you will be building up a savings pot for those unexpected expenses we all face as well as putting back into the pot for other members to be able to borrow too.