Salford Credit Union announced record lending
26 Jan 18
In November, 2017, £134,000 was given out in loans – a 23% increase on November 2016. The month before, in October 2017, 137 new members were signed up compared to just 77 in October 2016 – a 78% increase – with the trend continuing into November and December. The total amount lent in 2016 was £750,541 and £854,169 for 2017 – a £100,000 increase in 12 months representing 14% annual lending growth.
Chief Executive Sheila Murtagh said: "At the start of this New Year, when resolutions are being made, I would encourage everyone to take control of their personal finances, and we can help with that.
"By joining a credit union, you can be more prepared for next Christmas by starting to save with us over the next 12 months- as well as our standard savings account you can also open a Christmas club account, and all are accounts are fully regulated and protected. You can also be safe in the knowledge that if you have spent more than you intended over this Christmas period, that we will try to help you clear your excess debt – whether that be a credit card or pay day loan, and also help you to avoid high interest repayments in the future."