Save safely, borrow wisely
12 June 2018The West Cheshire Credit Union provides safe saving and affordable loan products to the local community, particularly those who are unable to access mainstream products. It is a practical solution for people who want to save money or need to borrow money at more affordable rates and is located in Winsford, Ellesmere Port and Chester. The Credit Union can be a life line for many residents in the borough who have limited or less than perfect credit history and are therefore unable to access mainstream financial services. It is often these residents who are at risk of falling prey to the extortionate costs of doorstep lenders, payday loans and, in some cases, loan sharks and in these circumstances a credit union can offer a real alternative.
Cheshire West and Chester Council, Cheshire & Wirral Partnership, Muir Housing, For Housing, Sanctuary Group and Weaver Vale Housing Trust commissioned West Cheshire Credit Union in 2015 to provide practical saving and affordable lending facilities to residents and workers across the borough.
Neil Jay, General Manager of the West Cheshire Credit Union, comments:
“The West Cheshire Credit Union has seen significant growth and now has over 4000 members, lending over £3.5 million to local residents in small and medium sized loans. We work closely with our key partners to raise awareness of the services and we pride ourselves in offering our members a professional and caring service. The Union continues to grow and we are looking forward to opening our new shop in Chester city centre in the summer.”
Leader of Cheshire West and Chester Council, Councillor Samantha Dixon adds:
“We are happy to support the West Cheshire Credit Union and reduce overall debt in the borough. Many residents end up taking out loans with extremely high rates and then struggle to pay them back, getting themselves further and further into debt. The West Cheshire Credit Union offers loans at affordable prices and various saving plans to suit your needs.”
If you would like to find out more about the West Cheshire Credit Union you can visit their website at www.wccu.co.uk or call them on 01244 399006.
All savings deposited with the credit union are fully protected by the Financial Services Compensation Scheme. The West Cheshire Credit Union is regulated and supervised by the Financial Conduct Authority (FCA), and the Prudential Regulatory Authority (PRA) which is also responsible for the oversight of all other financial services providers in the country.