‘Don’t get bitten by a loan shark’ says Lincolnshire Credit Union & Uni of Lincoln
29 Sep 17
‘Don’t get bitten by a loan shark’ was the message being delivered to new students at the University of Lincoln Fresher’s Fair this week by the Lincolnshire Credit Union in partnership with the England’s Illegal Money Lending Team following a successful bid for funding.
The aims of the project are to raise awareness of the dangers of borrowing from an unregulated lender; to provide information on how to report a ‘Loan Shark’ and to promote the benefits of saving and borrowing with the credit union.
Marta Villafranca Valls the credit union’s newly appointed Business Development Officer was supported at the event by two University of Lincoln MBA students.
John Eames, Chief Executive Officer, commented: “We offered 3 student placements to the University in January this year and engaged with some very high quality MBA students who have all gone on to volunteer for us after completing their placements. We saw this as an opportunity to recruit totally committed young people to help us build on our existing partnerships and to develop new ones amongst local business – both for corporate deposits and to serve their employees.”
Marta’s primary objective is to develop a development strategy principally to attract corporate deposits to increase the lending capacity of the credit union.
The credit union plays a role in many strategic partnerships in the county including the Lincolnshire Financial Inclusion Partnership and the Lincoln Against Poverty Steering Group and recognises the need to actively pursue a more diverse membership if it is to become financially self-sufficient.