Nottingham Credit Union Launches New Loan Product for Families

 

Nottingham Credit Union has launched a new loan account for young families.

 

Jason Eaves, The Manager at Nottingham Credit Union said: “We know many families face unexpected bills or have to buy furniture or domestic appliances”

“Many families will take on loans that cost more than they should.  I want to ensure young families in Nottingham and Nottinghamshire avoid the loan sharks, the high cost lenders and payday loans.”

 

Credit Unions are not-for-profit cooperatives owned and controlled by their members.

The Nottingham Credit Union started in 1992 and has offices on Maid Marian Way, Nottingham and Clumber Street, Mansfield.

 

“Nottingham Credit Union exists to provide an alternative to high cost lenders. We aim to lend responsibly at reasonable rates and in a way that doesn’t exploit our members (and in particular members who are financially vulnerable)”

 

  • Family Loans can be for any purpose.
  • Loans from £100 to £600.
  • Term from 3 to 12 months.
  • Interest rate 3% per month (APR 42.6%).
  • No arrangement fee, no early repayment fee.
  • Applications can be made online at www.nottinghamcu.co.uk or in branch at Maid Marian Way, Nottingham or Clumber Street, Mansfield
  • Applicants must be in receipt of child benefit for the duration of the loan and agree that this is deposited into their Credit Union account.
  • Applications will be assessed and credit scored.
  • People who are not currently members of the Credit Union can apply; they will need to become members before they draw the loan if agreed.

Nottingham Credit Union offer a range of loans for any purpose.

 

Nottingham Branch
69 Maid Marian Way
Nottingham
NG1 6AJ
Mansfield Branch
3 Clumber Street
Mansfield Town Centre
NG18 1NU

 

Categories: LATEST NEWS and PRESS RELEASE.

TalkMoney Week

Dated 12th November 2018

NOTTINGHAM CREDIT UNION SUPPORTS TALK MONEY WEEK

Talk Money Week launches on 12th November to encourage people to have more open conversations about money.

Held from 12th to 18th November, Talk Money Week is an opportunity to reduce the stigma around money by encouraging conversations among families, friends, colleagues and children.

Throughout the week there will be events across the UK to get more people talking about personal finance issues, encouraging savings and helping people understand the true cost of borrowing.

Jason Eaves, Manager at Nottingham Credit Union said:

“Since 2008, and the pressures that have been on people’s wages and benefits, people have had to become more organised. There is a big pressure for the perfect Christmas.  Credit Unions are there for ordinary families and can help with Christmas.  We offer a Christmas savings account and provide affordable loans” 

“Before you borrow money for Christmas, make sure you can afford the repayments. Sometimes the most convenient loan is the most expensive, so check how much you will pay back in total and compare to a loan from the Credit Union” 

“We want to ensure people avoid the loan sharks, the high cost lenders and payday loans this Christmas”

The Nottingham Credit Union has been helping the people of Nottinghamshire with simple savings and affordable loans for over 25 years.

The Credit Union is owned and run by its members.

End

 

Categories: PRESS RELEASE.