Christmas time loans for union members

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A Morpeth-based financial and co-operative organisation that people living or working in the county can join has been cutting the cost of Christmas debt.

In the run-up to the festive period, Northumberland Credit Union (NCU) made 28 loans totalling some £31,775.

Repayment of an average £1,100 loan in 12 monthly instalments will only cost £72 in interest – less if the loan is paid off more quickly.

Nic Best, chair of the credit union, said: “I think our interest rates compare very favourably with credit cards, let alone doorstep lenders, so why not make a New Year’s resolution to start saving with us?

“We don’t do credit checks, instead new members have to demonstrate their credit-worthiness by saving regularly and repaying smaller loans reliably.”

Call 01670 503666 or email info@ncul.co.uk for more details about NCU.