Union banks a busy time

A COUNTY banking scheme has recorded a busy few months as savers sought out Christmas loans.

Northumberland Credit Union approved 37 loans to members in October, November and December last year, amounting to a total of £29,500.

The figure is 33 per cent up on the same period for the previous year.

Clients will pay off the loans with one per cent a month interest (12.7 per cent APR), which is less than most credit cards, store cards and doorstep lenders.

Anyone living or working in Northumberland can join the union.

Chairman Nic Best said: “With the recession biting, more and more people are realising that their local credit union offers much cheaper credit than virtually anywhere else for loans up to £3,000.

“And, as long as they save regularly with us, our members are eligible for loans, whatever their credit status.”

The annual general meeting of the union will take place at Morpeth Methodist Church in Howard Terrace on Wednesday, February 15, at 7.15pm. Members will be able to have their say and elect Directors to the Board.

For more information about the credit union telephone 01670 503666, or visit www.ncul.co.uk