NEWS STORY: NOVEMBER 2007

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Northwards in the news

Saving for something special?

picture of money
Credit where it's due: MCU means access to borrowing, without big interest payments.

A car, holiday or special occasion? Manchester Credit Union can help you get started.

We've teamed-up with Manchester Credit Union to help tenants get affordable credit, and encourage them to save. On Monday 26 November 2007, the Manchester Credit Union opened a new base at our Cheetham Hill Road office.

Manchester Credit Union (MCU) is a local, ethical, financial co-operative, similar to a building society. It's owned and controlled by members and is open to anyone living or working within the city of Manchester.

Extra cash

Alison Foster, head of finance at Northwards Housing, said: "We all need extra cash from time to time; but for some families access to affordable credit can be very difficult - many of them turn to doorstop lenders."

"If you borrow £500 over 55 weeks from a doorstop lender you may have to pay back an additional £325 in interest. Exactly the same loan from MCU will cost just £32.94 in interest - a saving of almost £300. This will really benefit our tenants, and everyone North Manchester."

The credit union office will be open on Monday, Wednesday and Friday afternoons from 2pm to 4pm.

For more information, phone: 0161 231 5222 or email info@manchestercreditunion.co.uk.

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