Credit union offers Coventry and Warwickshire key workers a helping hand with new reduced rate loans - The Coventry Observer

12th Aug, 2022

Credit union offers Coventry and Warwickshire key workers a helping hand with new reduced rate loans

THE LARGEST credit union in Coventry and Warwickshire is launching reduced loan rates to key workers in the region.

People will be able to borrow up to £3,000 for a maximum of three years with an annual percentage rate of 19.6 per cent.

They are available for those living or working in Coventry and Warwickshire and performing roles on the Government’s Key Worker List.

All loans are checked to ensure they can be afforded and fit within the family’s budget.

These are challenging times for everyone, particularly families where income has been reduced as a result of the measures introduced to prevent the spread of Coronavirus. Where those households include a Key Worker, financial pressures may restrict their ability to carry out their duties.

New Central Credit Union can help with an affordable, responsible loan, whether for car or bike repairs, home improvements, a travel pass or other essential supplies, key workers can borrow safely from their local, not-for-profit credit union.

Malar Jayamurthy, general office manager, said: “We want to thank all key workers for their efforts during this crisis.

“By offering affordable credit, we hope to ensure vital members of the workforce can continue their efforts to keep us all safe from this disease.

“We also want to make sure that those key workers who need to borrow have access to safe and responsible lending.

“There are many high cost lenders and loan sharks out to prey on vulnerable people during these unprecedented times, so we want to protect as many people as possible from harmful borrowing.”

Visit newcentralcu.co.uk for more information or to apply.

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