Site search
Login button Registration button
  • You are here :
  • Home
  • » Media and Research
  • » News
  • » Greater Manchester Credit Unions have joined forces to warn of the dangers of rip-off lenders

Greater Manchester Credit Unions have joined forces to warn of the dangers of rip-off lenders

newsitem

20 Oct 17

Greater Manchester Credit Unions have joined forces to warn of the dangers of rip-off lenders

‘Don’t get spooked by rip off lenders – GET LOCAL’ is the message being spread around Manchester to promote credit unions.

Greater Manchester credit unions have joined forces to launch a new network in the region - called SoundPound – which aims to take on national lenders and show people there is an ethical, local alternative that could save borrowers thousands of pounds.

More than 50,000 people in Greater Manchester are already members of one of the SoundPound partners, currently borrowing a total value of £14 million in loans. Members currently hold savings of £24 million with the SoundPound partners.

Manager of Hoot Credit Union, ‘David Batten’ praises the SoundPound campaign, he says : “It is great that tens of thousands of people in Greater Manchester are turning to us to borrow and save, keeping millions of pounds in the Greater Manchester local economy. But there are thousands more people out there we want to help, so I would urge them to get in touch to see how a local alternative to rip-off lenders could save hundreds of pounds.”

The campaign is being supported by Mayor of Greater Manchester – Andy Burnham - who is a member of his local credit union.

He said: “Our community credit unions are the local, ethical alternative to the high-interest payday loan companies and loan sharks.

“In this Credit Union Awareness Week, I hope even more people in Greater Manchester will sign up to their local credit union and show that there is a real, local, alternative when it comes to saving and borrowing.”

ABCUL members who have joined the campaign are: Hoot Credit Union, South Manchester Credit Union, Salford Credit Union, and Cashbox Credit Union.

Back Back to news listing