A Matter of Life and Debt - BBC 1 - Credit Union

We have been members of a Credit Union for a good number of years now and if you are on benefits or low paid, I ask why aren’t you! Over the years, we have been given loans to help us at Christmas and emergences like a new cooker where if I were to ask the bank they would laugh at me and point to my credit score.

If the bank would bother to have a look at our account they would see our bills are paid monthly and on time but that does not count just look at your credit score it what it’s all about. People on benefits and low pay can pay bills like the next person.

It’s easy to join and you save what you can afford. We save has little as £5 a-week and if we have a loan you make the repayment fee and continue saving the £5 its really about saving. Since joining the Credit Union we have said goodbye to loan sharks who were deep into our pockets with their interest rate on another level while was the Credit Union it is much cheaper.

This morning on BBC1, there was a programme ‘A Matter of Life and Debt’ a documentary following people whose lives have been transformed by ethical loans offered by credit unions and responsible lenders.

In this episode, we see a mother at her Credit Union looking to loan £1000 to reward her son with a trip to Jamaica to see his father after he promise to knuckle down in school, so win his reward. It’s not all about Credit Unions but ethical loans that in this episode helped to people two set up businesses. Turn down for cash! A baker finds ethical backers to fund is new bakery that specialises in his homemade pies. Business is so good he’s open a second shop.

Another had a business idea but was turned down for cash but sourced ethical funding creating a successful language school after starting at her kitchen table. There will be more uplifting stories over the coming days just goes to show help is out there.

Our Credit Union is Cardiff & Vale but are the same facilities all over the country some visit school to help children to learn the benefits of saving which is a brilliant. The have an office on the second floor of the Central Library, Cardiff or you can download the applications from their website.