Press release
23rd November 2011
Local Landlords Pledge Support to Gloucestershire
Credit Union
Gloucestershire Credit Union is experiencing a boost to support and members
thanks to local Social Landlords.
Gloucestershire Affordable Landlords Forum has pledged to provide some resources
and finance to the Gloucestershire Credit Union as well as publicise the service that
the Credit Union can provide to their residents.
In the last three months over the last year the Credit Union has seen a 40% rise in
membership, a significant proportion of these have joined through our new collection
points at Gloucester City Homes, Two Rivers Housing, Gloucestershire Housing
Association and Severn Vale Housing.
Jo White, Chair of Gloucestershire Credit Union says, "It is vital that the residents of
Gloucestershire understand there is another option to saving and borrowing money.
As a Credit Union we are concerned that many may resort to loan sharks or credit
card borrowing over the Christmas Period. We want to get our message out to as
many people as possible is that we offer advice on budgeting, saving for the future
as well as offering affordable loans at reasonable rates "
ENDS
Contact:
Gloucestershire Credit Union
107 Barton Street
Gloucester
GL1 4HR
Tel:
Web:
01452 422712
www.gloscreditunion.org.uk
Press release
NOTES TO EDITORS
Gloucestershire Credit Union is a profit sharing, democratically run financial cooperative which offers convenient savings and low interest loans to its members. The
members own and manage their credit union themselves.
The three main aims of a Credit Union are:
 To encourage its members to save regularly.

To provide loans to members at very low rates of interest.

To provide members with help and support on managing their financial
affairs (if required).

The members make regular savings, as little or as much as they wish.

These savings then form a common pool of money from which loans are
made to members.

When members have been saving for a certain period of time (usually about
12 weeks) they can apply for a loan from the pool.

Interest on the loan is usually charged at only 1% per month on the monthly
reducing balance – this equates to 12.68% Annual Percentage Rate (APR).

The amount you will be able to borrow will depend on how much you need,
what you can afford to repay, and the credit union’s policies.