Churches Come out Strongly In Support Of Local Credit Unions
28th May 2014
Today the church of England has once again set out the case for supporting a local credit union in their war against Pay Day Lenders. In February they announced that they would their churches al over the country to promote the credit union network as being one of the best ways the local communities could help each other for low levels of finance without hitting people with high charges.
In interviews earlier this year, the Archbishop of Canterbury expressed his serious concerns about the social and emotional burden of debt caused by payday lending.
Whilst some of his comments have been interpreted as initiating a 'war on Wonga', he gave voice to a growing belief within the Church and wider society that there is an urgent need for better regulation of payday lenders, greater personal responsibility on the part of borrowers, and the availability of affordable credit.
A modernised and expanded credit union sector would contribute powerfully to these aims. We must help credit unions to become bigger, better known and easier to access if we want them to compete effectively with high interest lenders.
The Archbishop is calling on churches to support credit unions in their areas. The information on these pages gives some background information and links to resources, which you are free to use and adapt.
Hi-Scot credit union has been gradually expanding across Highland and Orkney from its Western Isles base. Now is the time to check out the rates on borrowing before you borrow from any other lender and also look at the other benefits of using a credit union.
There are challenges for both borrowers and savers in equal measure; whether it is the saver who has seen interest paid on savings being slashed, or the borrower who can no longer access credit from their Bank.
The slow down in the housing market provides yet another challenge for many of us. Where once we may have looked at moving home, more of us are now looking to repair, or extend our existing properties.
One organisation offering a real answer to these challenges is HI-Scot Credit Union. HI-Scot is the largest Credit Union serving the Highlands and Islands Region.
HI-Scot can provide Home improvement loans of up to £10,000. Like all our loans they are flexible and affordable, and of course being a Credit Union means there are no set up fees, no charges for admin, just simple straightforward borrowing the way you want it. an added bonus is the free life insurance covering any borrowing that other might charge you for.
If you are a saver looking for a good return on your hard earned savings, want to save with someone you can trust, then HI-Scot may be the answer for you.
So why not see if HI-Scot can help you face some of your challenges.
E mail: info[AT]hi-scot.com