An enterprise in Wrexham is helping local residents on low incomes and assisting those facing money problems.
Wrexham Assembly Member Lesley Griffiths recently visited Moneyline, a leading not-for-profit organisation that has provided financial support and guidance for over 10 years across the UK.
Moneyline opened in Wrexham in November last year and issues affordable loans, savings accounts and financial advice to people who cannot receive credit from traditional mainstream sources.
The company offer small loans, usually for periods of less than one year and were named Responsible Lender of the Year in 2011 and 2012.
In recent years, the difficult economic downturn has seen a rise in payday loan companies but the Welsh Government, and organisations like Moneyline are working hard to tackle the issues created and provide a real alternative for people affected.
After her visit, local AM Lesley Griffiths said:
“Payday lenders are certainly not a solution for vulnerable people who find themselves unable to meet their day-to-day living costs.”
“I believe it is vital to support organisations like Moneyline who have provided a valuable financial service to people in Wrexham since they opened last year.”
“I have asked the Local Authority to work with Moneyline and they are arranging a meeting in the near future.”
“Developing closer links with the Local Authority, as well as other relevant agencies, enables Moneyline to promote and broaden their range of services, helping more vulnerable residents realise there are legitimate alternatives to the pay day loan companies.”
