£50,000 for Loans

“Credit Union’s £50,000 for loans”

Cash Register
Fusion Credit Union, the local not- for -profit savings and loans co-operative has announced record levels of savings deposited by members.

“Our loans are also at record levels, but we still have over £50,000 available for qualifying members to borrow.” says President, Pete Selwyn,

Anyone who either lives or works within the Lichfield District Council area can become a member, start saving, and apply for a loan. A members first loan can be any amount up to £500. Subsequent loans can be up to £2,000 available.

“Our aim”, says Pete “is to help people who can ill-afford high cost loans from doorstep lenders, pay day loan companies or loan sharks.

Recently, we heard from a lady who had a loan from a doorstep lender for £1,000 over 55 weeks where the interest payments were over £700. An equivalent loan from Fusion would have cost her less than £90 in interest.”

“We interview every applicant so that we ensure that we only lend what the member can afford to repay.

Fusion Credit Union is run entirely by volunteers and is supported by Lichfield District Council and other funding agencies. Collection Points are operated in locations across the District

So, if you are worried about the cost of Christmas or paying the Credit Card bill in January, give Fusion a call.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s