Leeds City - Sadeh Lok Housing Association

www.sadehlok.co.uk
Leeds City
Credit Union Q & A:
Sadeh Lok have recently partnered up
with Leeds City Credit Union to offer
all of our residents fair and accessible
banking facilities. We recently
interviewed Laura Popple, the Business
Relationship Manager at LCCU, to tell us
a bit more about themselves.
Q: What is a Credit Union?
Q: What is the interest rate on your loans?
A Credit Union is a financial co-operative, similar to
a bank, but the main difference being we are a “Not
for Profit “organisation. This means all of its profits
go back into the company to improve products and
services, and into the communities we work in. We
offer ethical banking, including competitive saving
plans and access to affordable loans at a fair rate of
interest.
We are capped as a Credit Union at 26.8% APR, so
that is the maximum any member will pay. But each
loan application is assessed on individual merit, and
an appropriate interest rate is applied.
Q: Why should I join a Credit Union?
Credit Unions are a great alternative to high street
banks, and give people an alternative to doorstep
and payday lenders. Because Credit Unions are a
“Mutual” it means it is owned by its members, for
the benefit of members alone, you can even attend
our annual AGM and help make decisions.
Q: Why have Sadeh Lok chosen to partner
with LCCU?
We are one of the largest Credit Unions in the
country with 33,000 members and have been
established since 1987. We have online and
telephone banking, unlike some smaller Credit
Unions, so this means we can provide national
access no matter where you live in the country. We
also have one of the biggest ranges of products for
a Credit Union in the country.
Q: What products do you offer?
We offer a vast collection of products and services
including: Savings, Christmas Club, Bill Paying
Account, Loans, Current Account, Pre-Paid Card,
Young Savers account, Co-Op Electrical Scheme,
Enterprise Loans and LCCU Lottery.
Q: Is my money safe in LCCU?
LCCU is regulated the same as any other bank or
building society by the FCA. Your money is also
covered by the FSCS up to the value of £85,000
per member.
Q: Tell us one interesting fact about LCCU
We have recently merged with White Rose
(Wakefield) Credit Union, meaning we have
acquired 5,000 new members and 9 members
of staff. This also means that the two Wakefield
branches in Wakefield One and Hemsworth can be
used by Sadeh Lok residents.
MORE INFORMATION
You can find more information on
our products, or join LCCU by visiting:
www.leedscitycreditunion.co.uk, emailing:
[email protected] or
calling: 01132 423 343. You can also pick up
an application form from Sadeh Lok
housing office.
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