Leeds Credit Union Unwraps Savings Gift in Time for Christmas

Wednesday, October 16, 2019

This International Credit Union Day (17th October) Leeds Credit Union is launching its annual Christmas Campaign, and announced its aim to save the people of Leeds, Wakefield, Harrogate and Craven £2 million in interest charges during the festive season.

The not-for-profit organisation has set the target in the run up to Christmas, ensuring it is able to help people all across the region to borrow the money they need without landing themselves in financial difficulty. Unlike doorstep and payday lenders, Leeds Credit Union is committed to ethical lending and ensuring that people never borrow more than they can afford to pay back.

During 2018’s Christmas Campaign, the credit union approved more than 2800 people for affordable loans, saving them £1.8 million in interest charges when compared to typical payday lenders. And Leeds Credit Union is aiming to surpass that amount this festive season, taking the comparative saving passed the £2 million mark. This year’s campaign is now live, with the last day for loans in time for Christmas the 13th December.

Chris Smyth, chief executive of Leeds Credit Union, commented: “This Christmas, we are more determined than ever to ensure that people across the region who require financial assistance, stay away from disreputable payday or doorstep lenders, who have no interest in the well being of customers nor their ability to afford repayments.

“As such, we have committed to lend more money this period than ever before and would urge people thinking of taking out a loan this Christmas to come to us first and be safe in the knowledge we put their best interests before profit, both this festive period and beyond.”