Low-cost loans help residents

NORTHUMBERLAND residents had a happier Christmas after securing low cost loans.

From October to December the Northumberland Credit Union (NCUL) approved 37 loans, amounting to a total of more than £22,000 — an average of about £600.

Borrowers will be paying them off with just one per cent a month interest (12.7 per cent APR).

NCUL Chairman Nic Best said: “With the recession biting more people are realising that their local credit union offers much cheaper credit than virtually anywhere else for loans up to £2,500. As long as they save regularly with us, our members are eligible for loans.”

Anyone living or working in Northumberland can join and members can have their say and elect directors at the AGM on Wednesday, February 16.

For more information call 01670 503666 or visit www.ncul.co.uk