Wrexham Assembly Member Lesley Griffiths believes it is time Credit Unions ‘took the fight’ to unscrupulous lenders and has welcomed the announcement of a TV ad campaign.
A TV advertising campaign commissioned by The Social Investment Business is to hit Welsh TV screens this week, and will highlight the ways in which Credit unions can help their members.
Scheduled during primetime slots on ITV daytime television, the drive aims to increase awareness of the services Credit Unions provide. Credit unions are looking to further expand their membership, despite having enjoyed an unprecedented boom in membership levels over recent years.
The adverts will run for a four week period to encourage people to ring the credit union helpline (number) or visit the findyoucreditunion.co.uk website for an alternative and low cost source for small scale credit.
Members enjoy access to low cost credit, no arrangement fees and no hidden costs on loans. Low rates of interest mean Credit Union Members face no more than £68 pound in interest on a yearlong loan of £500.
AM Lesley Griffiths, a Member of Wrexham Credit union for a number of years, thinks additional promotion is needed for the range of services Credit unions provide:
“I welcome this new advertising campaign, and believe it is about time the services of the Credit Union became more widely known.
“Credit Unions have been providing a vital community service for years, which aims to help members rather than purely squeeze profits from them. However, they face an uphill struggle against unscrupulous lenders which stream adverts all day long, often offering eye watering interest rates in the small print.
“I am heartened to see the Credit Union movement taking the fight to these other sources of credit, advertising at the same times on the same channels.
“For individuals facing difficulty, local Credit Unions can provide a lifeline to inexpensive credit when it is needed most, and prevent dangerous debt cycles from devastating lives. “
