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Credit where due as Union speaks out

Published Monday, 17 November 2014

The North London Credit Union, a not for profit financial co-operative run by members, addressed Enfield Council's councillors this week and revealed that since November 2012 the team has been responsible for the delivery of hundreds of thousands of pounds worth of funding to new businesses in the borough.

Cllr Alan Sitkin, Enfield Council's Cabinet Member for Economic Development said "I was delighted to meet with the North London Credit Union and see the good work they have done by bringing responsible and affordable lending to Enfield's smaller businesses.

"One of the major problems new businesses face is who will lend to them? Especially at the beginning when they have no credit history. Everyone has seen advertisements for high interest loan companies which have flooded the high street now, and often in desperation some people even turn to loan sharks to pay bills.

"The North London Credit Union offers a safe and low cost alternative for not only companies but individuals who may not have the best credit rating, it's also great to hear about the Union's work with partners helping to reach out to residents in more deprived communities."

The North London Credit Union, offers savings, loans and other services for individuals and businesses at competitive rates, starting at 7.44%. Lending isn't based on savings held and there is no long wait for a decision.

Julia Daniel, Manager of the North London Credit Union said "'We are delighted to have the support of Enfield Council as we work to provide even more residents and businesses with fair and secure finance. 

“For the past 20 years we have served our members in the local community and we are proud that this has led to the opportunity to be a key part of Enfield's future economic growth.”

To get in touch with the North London Credit Union go to: Link

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