Just Credit Union announce a £25 bonus for NEW members who borrow and save on the run up to Christmas. The bonus is provided by the national Illegal Money Lending Team who are using funds they have confiscated from loan sharks to encourage more people to join their local credit union.
Just Credit Union offers affordable ethical loans and the opportunity to save whilst you borrow is a unique feature of credit unions. This makes it easy for members to start to build-up some savings providing a pot of money for a rainy day or a lump sum when the loan is paid off. With flexible repayment terms and free loan protection, a Christmas loan from Just Credit Union is a great alternative and helps build savings for next year.
Just Credit Union is working with Illegal Money Lending Team to use funds they have confiscated from loan sharks to provide new members with a a £25 bonus. The first 50 new members taking out a loan this Christmas who quote "Shropshire Save & Borrow" will be eligible for an additional £25 to be paid into their savings account. All they have to do is keep to the terms of their loans and savings commitments and after 13 weeks they will qualify for the extra £25 bonus which will be paid directly into their savings account.
Fairbanking Foundation research showed that the Credit Union save as you borrow model is very effective in helping people save. Ninety seven percent of Credit Union members surveyed by the charity said it was helpful to be saving at the same time as paying off their loan with over 70% continuing to save.
Karen Farrow Just Credit Union's Chief Officer said: “We regularly hear from happy members who are amazed how quickly their savings have built up and what a sense of security and achievement those savings give them. We hope this extra £25 will encourage more people to join us.”
People who live or work in Shropshire can apply on-line at www.justcreditunion.org. There is also an on-line loan calculator which can help people find a loan that meets their circumstances.
Terms and conditions are available on line and new members need to quote “Shropshire Save & Borrow” when applying.