Loan shark avoidance plan in Wigan

The Unify team
The Unify team

A Wigan credit union has launched a campaign to help borrowers escape high cost debt and loan sharks by finding a better way to borrow and save.

Unify’s new crusade #YoureBetterOffWithUs sees them join forces with Greater Manchester opposite numbers during the current Credit Union Awareness Week to urge borrowers to leave behind expensive credit cards, doorstep and pay day loans, and high interest retailers.

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Unify CEO Angela Fishwick said: “We know slick advertising, catchy jingles and popular cartoon characters can entice people in to taking out a loan – which seems like the only option at the time.

“Then once they have signed up to that high interest credit card, bought something from a high interest retailer like BrightHouse or used a pay day or doorstep lender – it is not easy to escape.

“Unify Credit Union may not be glitzy – but we do know how to perform when it comes to making sure people are borrowing responsibly, with a competitive interest rate and repayments within an affordable budget.

“When taking out a loan as a member of Unify, a savings pot is also built up as a result, so when a loan is paid off borrowers are not back in the same position.

“We can also consolidate debt – so no need for people to wait until they have paid off current debts, which can feel like a black hole, before they speak to us.

“Unify provides savings and loans services to more than 8,000 members across the borough and we would urge anyone who is worried about their finances to get in touch, we really do care about people, not profit – and they really are better off with us.”

Since 2001, when Unify was formed, they have lent more than £26.5m.

In the last 12 months more than 5,000 members have benefited from low cost loans totalling £3.8m, saving residents thousands of pounds in interest payments. Members savings currently stand at £7m and £250,000 of this is savings for junior members.

Unify has online services and applications, as well as a branch on Crompton Street, and has a pop-up information stall in Grand Arcade today and at Wigan Market tomorrow.

For details on Unify or to join visit here