People in Lichfield and Burntwood are being urged to avoid the temptation to turn to loan sharks if they are struggling with coronavirus-related debts.
The warning comes from Fusion Credit Union as the furlough scheme continues to wind down.
The Lichfield-based organisation’s chair, Janet Bamber, said:
“We know so many local people are struggling with debt in so many ways due to the impact of the pandemic.
“We are desperate to help stop them falling into the trap of things becoming even worse by borrowing from loan sharks at very high interest rates.
“For the last 15 years our local volunteers have helped local people save thousands of pounds in costly debts. We currently have around half a million pounds waiting to be lent.”
Janet Bamber, Fusion Credit Union
Fusion Credit Union makes small affordable loans from the savings of local people, with any profits going back to help more borrowers. It is regulated in the same way as high street banks.
Anyone who lives or works in Lichfield or Burntwood can apply to become a borrower or saver.
For more information visit www.fusioncreditunion.co.uk or call 01543 415032.
