News Credit Union Provides Alternative to Pay Day Loans

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Credit Union Provides Alternative to Pay Day Loans

Carl Sargeant, Minister for Local Government and Communities highlights how Credit Unions can provide an alternative to pay day loans.

This news comes as Cardiff & Vale Credit Union announces faster processing times. Bank payments that take 3 working days are no more, thanks to a new and improved faster payment system. Members making withdrawals into bank accounts can now receive funds the same day, taking away the wait for your money.

Members applying for loans are also benefiting from a quicker assessment period, with decisions on standard loans usually made within 24 hours. Alun Taylor, Chair of Cardiff and Vale Credit Union commented "This coupled with the speed at which funds hit the bank account means our loans are a far cheaper, ethical and responsible alternative to pay day loans."

 

To further improve the service Cardiff and Vale Credit Union offers, opening hours have also been extended. Members can now access services from 10.00am 4.00pm Monday to Friday. Information and collection points in local communities have doubled over the past year. Alun Taylor continued "the past year has witnessed an ongoing improvement in CVCU services, which has had significant impacts on the growth of the business and benefits to our members."

 

Read the full story here

 

Posted: Tuesday, 07 February 2012

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Cardiff & Vale Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (FRN 213467)