If you've ever had problems opening a bank account, wanted a loan with low interest or wanted to save a little or as much as you wanted whenever you wanted, Hastings & St Leonards Credit Union could be just what you're looking for.
The Credit Union can help you avoid loan sharks who can charge up to 500% interest. A £500 loan over 12 months from the Credit Union will cost no more than £533 compared with over £800 from a well-known doorstep loan company.
The Credit Union is a financial co-operative owned and controlled by its members all of whom live in or work in Hastings & St Leonards. It provides accessible savings, low cost loans and other financial services.
Members save regularly as much or as little as they want. They are eligible to apply for loans - maximum interest 1% per month on the balance outstanding. Repayment of the loan is based on the individual's ability to pay and can be reviewed at any time if difficulties arise. Free loans and savings insurance protects them in the event of death or permanent disability - on death any outstanding balance is cleared. Credit unions are governed by the Financial Services Authority.
The first Credit Union was set up in Germany in the 1850s. There are now over 40,000 in 80 countries with 118 million members world-wide.
Hastings & St Leonards Credit Union has been around for nearly 5 years with support from Hastings Borough Council, 1066 Housing Association and Hastings Trust. There are collection points at the Oasis Centre in Chiltern Drive, Hollington Youth & Community Centre and Hastings Trust in Robertson Street.
By saving and borrowing with your local Credit Union, you are not only helping yourself, you are also helping your local community.
For further information contact us by phone on 01424 202651 or write to us at 41e Earl Street.
The Credit Union operates independently of Hastings Borough Council
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This page last updated: 18/12/2003