If your answer is yes, then read on!
Credit Unions in Derbyshire have come together to form the Derbyshire Fairer Money Campaign under the collective name "Community Banks Derbyshire".
Credit unions are financial co-operatives owned and controlled by the members. They are not for profit and provide banking services to their members. They promote saving, provide credit at reasonable rates and offer other financial services for their members.
Credit Unions can offer products not offered by the banks – such as Jam Jar accounts, or Rent Accounts. These can help you budget by paying your rent, council tax, utility bills and so on for you, so you always know how much spending money you have left.
They also offer accounts for special events such as Christmas or Holiday Saver accounts. Some credit unions also offer interest bearing accounts such as Cash ISA’s and Junior ISA’s.
APR (annual percentage rate) is the rate the lender charges on a loan or credit.
APR includes both the interest rate and any charges such as arrangement fees.
APR varies from lender to lender.
Generally the lower the APR, the better it is for you.
Remember, if you do not pay a loan back over the term agreed you will pay more interest.
So always check it and compare
Here is an example of typical lenders rates
|Loan Provider||Amount Borrowed||Weekly Payable||Interest Charged||Interest saved by CU member|
|Shopacheck Financial Services
|Provident Personal Credit
|Midlands Community Finance
|Credit Union||Bank||Payday Loan / Doorstep||Hire Purchase||Loan Shark|