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Cup of tea in a Northwards mug Manchester Credit Union

As the recession bites hard on Britain, loan sharks are getting their teeth into more and more people every day.

Illegal money lending is a problem across north Manchester. Many people get bitten because they don't know what lies ahead - or it looks like there are no other options.

Credit unions are a good alternative to doorstep lenders. If you borrow £100 over one year from a doorstop lender you may have to pay back £171. Exactly the same loan from Manchester Credit Union will cost just £107!

Manchester Credit Union believes in giving its members the best deal possible and will consider loan applications for any worthwhile purpose. They treat each loan application on its own merits and with the utmost confidence.

But they are not just about saving and borrowing. The Manchester Credit Union also offer current accounts. Their accounts are ideal if you need a bank account that is easy to manage, and won’t hit you with huge hidden charges.

It may be that you’ve been unable to open an account due to poor credit, or low income. Maybe you want to bank somewhere where you matter, not the amount in your account.

To find out more about the Manchester Credit Union and the services they offer visit your local housing office at the following times:

  • Monday – Cheetham Hill Office, 2-3pm
  • Wednesday – White Moss Road Office, 2-3pm
  • Friday – Monsall Street Office, 2-3pm

Bite back!

Loan sharks lend money illegally. They are unlicensed traders that rip you off. If you have borrowed money from a loan shark, your phone could be your best defence. Report them in confidence to a Trading Standards illegal money lending team. Call 0300 555 2222, text 'Loan Shark' to 60003 or email reportaloanshark@stoploansharks.gov.uk. For more information visit www.direct.gov.uk/stoploansharks, and have a look at the video clip below.

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