There are many reasons why people do not have access to a bank account they can use. It may be that they use a post office account or there is no local branch in their area. However, there is another way of managing money. Credit Unions work just like a bank but without the charges, fees and penalties. They can help people whatever their circumstances, credit record or financial history.
Credit unions offer a wide range of services for their members including:
• Adult and junior savings accounts
• Christmas savings accounts
• Regular savings from as little as £1 per week
• Local collection points
• Low cost loans at around 1% interest a month
• Short term pay day loans
• No charges or penalties
• White goods deal
CredECard is a pre-paid visa debit card that requires no credit check and works just like a bank card. Credit Union members can:
- Have their wages or benefits paid directly onto the card
- Earn cash-back at certain retailers
- Pay in cash at paypoint outlets
- Budget with the envelope facility
- Use the card in the shops and online
- Pay bills by standing order including rent
- Withdraw cash at an ATM (there may be a cost associated with this card)
If you would like more information please give us a call. You can contact a member of the Social Justice team on 01224 423000 or email us at firstname.lastname@example.org.
Click on the logo to find out more about your local Credit Union.