Credit unions вЂ“ that have been championed by both the Prime Minister while the Archbishop of Canterbury as an inexpensive, not-for-profit substitute for pay day loan businesses вЂ“ are a cross between a co-operative and a bank to check out accountable lending as an вЂњantidote to payday loansвЂќ.
My Community Bank offer loans of between six and 3 years, with a choice in concept supplied immediately via an affordability that is online credit check.
Its loans can offer a way out for individuals caught because of the cash advance businesses that may charge interest levels of nearly 6000% APR whenever clients вЂroll overвЂ™ their borrowing. These people are unable to refinance via a loan from a traditional high street bank in almost all cases.
Mohsin Mehdi, CEO, our Community Bank, stated: вЂњAs A community bank many of us are about Community Savings, Community Borrowing, Ethical Banking and Community Prosperity.
вЂњWe donвЂ™t just want to provide individuals an alternative solution to the street that is high, and a good cost savings price for anybody to locate decent comes back.… Read More...