Laura Sharman 05 August 2014

Loan shop takes on pay day lenders

A credit union loan shop, offering a more affordable alternative to pay day lenders, has been opened in Leeds.

Leeds City Credit Union will offer loans with an APR of 26.8%, compared to the average APR of 299% from high cost lenders. It will also help raise awareness of local, more affordable alternatives to pay day loans, pointing people in the direction of finance and debt advice.

Chris Smyth, chief executive of Leeds City Credit Unio,n said: ‘By providing affordable credit union loans we intend to significantly undercut the excessive rates of interest, that the high cost money shops charge.

‘What’s more the credit union, unlike the payday and high cost loan shops, will take care when giving credit – we carefully check that a person applying for a loan can afford the repayments.’

Leader of Leeds City Council, Cllr Keith Wakefield, said the new credit shop would help with the drive to make Leeds a ‘pay day lending free city’.

He said: ‘We want to continue to encourage people to take advantage of responsible lenders in the city such as the credit union to get a better understanding of how they get out of debt, but also what other options may be available to them.’

SIGN UP
For your free daily news bulletin
Highways jobs

Casual Duty Managers (Sports Centres)

London Borough of Richmond upon Thames and London Borough of Wandsworth
£14.28 per hour plus 12.07% holiday relief pay al
Casual Duty Managers (Sports Centres)
Recuriter: London Borough of Richmond upon Thames and London Borough of Wandsworth

Community Support Worker - Centralised Safeguarding Triage

Essex County Council
£25395.00 - £32131.00 per annum + +26 Days Leave & Local Gov Pension
Community Support Worker - Centralised Safeguarding TriagePermanent, Full Time£25,395 to £32,131 per annumLocation
Recuriter: Essex County Council

Mechanical Engineer (Gas) - Harlow District Council

Essex County Council
Up to £450.0000 per day
Mechanical Engineer (Gas) Location, HarlowFull time, Temporary 6-12 Months £350.88 PAYE / £450.00 Umbrella Closing Date
Recuriter: Essex County Council

Principal Planner - Basildon Borough Council

Essex County Council
£50 - £55 per hour
Principal Planner - Basildon Borough Council Full-Time, Temporary 6 Months Contract 36.25 hours£50-£55 per hour Umbrella Closing Date
Recuriter: Essex County Council

Principal Systems Analyst Applications

Oxfordshire County Council
£46412 - £49282
The ICT Principal Systems Analyst will be the subject matter expert on the Children's Social Care and Early Help Applications. They will be aware of and will contribute to Application roadmap developments, keep abreast of legislative changes and customer Oxford
Recuriter: Oxfordshire County Council
Linkedin Banner