People, who are thinking about taking out loans for ‘high ticket’ items such as holidays, weddings, and new kitchens, should look no further than their Credit Union as a way to help the local community.
Your Credit Union* are urging socially-minded residents to use the Kensington-based community bank as a means of helping the Tri-borough’s less affluent residents.
“If you save or borrow from Your Credit Union your deposits and repayments stay in Kensington & Chelsea and Westminster and will be used to help others in the community,” said the Credit Union’s CEO Helen Mason.
“There is a pre-conception that the borough is universally wealthy and Back the Tri-Borough call from Credit Union all residents have plenty of disposable income. However, there are areas of quite severe deprivation where many people are struggling to make ends meet.
“These are typically ordinary people who may be finding the current cost of living and supporting their families in London a challenge, or who may be in receipt of benefits; the kind of people you would find in any town or city, but who just happen to live in an area of huge contrast.
“With the Borough currently facing major challenges, particularly in the aftermath of the Grenfell Tower fire, it is more important than ever for Your Credit Union to be a catalyst in bringing the area’s hugely-diverse communities together to support each other.”
Lady Victoria Borwick, former MP for Kensington, Rt Hon Greg Hands, MP for Chelsea and Fulham, Westminster North MP Karen Buck, and Hammersmith MP Andy Slaughter, are all members of the financial co-operative.
The Royal Borough of Kensington & Chelsea was one of the initial organisations who put in money to set up the Credit Union and continues to be supportive, as are a large number of local community trusts, churches, and housing associations.
Loans are available from £100 up to £7,500 and can be repaid over a period of up to 60 months depending on the amount borrowed. The Credit Union takes into account every person’s individual circumstances when assessing the loan and deciding on the repayment plan.
Plan your expenditure Save in any one of our named savings accounts and plan for the things that you may have to pay for in future There are no arrangement fees, no hidden costs, and no early payment penalties if the loan is paid back more quickly.
There is no need to join the Credit Union in advance of applying, but it is necessary to become a member to get a loan.
The process of applying for a loan is simple.
Call Your Credit Union on: 020 7605 6341 or visit: www.yourcu.co.uk and arrange a time to come in and see us at 346 Kensington High Street, W14 8NS. We will talk to you about savings and loans, and what sort of loan may best suit you.
*Your Credit Union is the trading name of K&C Credit Union Ltd firm no. 564084