Simple savings, sensible loans
Our There for your needs credit union solution offers UNISON users use of low-interest loans and a selection of savings services and products through our British community of partner credit unions. Whether youвЂ™re dissatisfied with present banking plans, are fighting excessive rates of interest charged by payday as well as other loan providers or just searching for an ethical alternative, credit unions may possibly provide simply the clear answer.
UNISON has generated a network of credit unions within the UK where users and their own families can both conserve and sign up for low-interest loans вЂ“ in many situations, through payroll deductions.
We know already exactly how many members are employing pay day loans as well as other high-interest loan products вЂ“ frequently getting caught in a trap of spiralling financial obligation. UNISON is advertising credit unions as monetary and ethical co-operatives that will assist people in a secure and accountable method and promote monetary health.
The advantages for UNISON users
1. preserving with a credit union
Very little as ВЈ1 can be all you have to start a family savings. This might be a smart option if you’re able to just manage to save yourself a touch each week or once in a while. Along with your reward for preserving will undoubtedly be you have saved that you receive a dividend each year вЂ“ often in the region of 2-3% of the amount.
2. Borrowing from a credit union
Our credit union lovers can provide loan items вЂ“ including crisis loans вЂ“ to people that do definitely not meet the requirements to borrow from traditional loan providers such as for example banking institutions and building communities, some of which have actually tightened their financing requirements as a consequence of the recession.