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Warwickshire County Council is reminding residents of the importance of looking after their financial wellbeing by acknowledging International Credit Union Day on Thursday 15 October.

As the Covid-19 pandemic continues, bringing with it a number of struggles for people, Warwickshire County Council is reminding residents of the importance of looking after their financial wellbeing by acknowledging International Credit Union Day on Thursday 15 October.

Citysave is a non-profit credit union providing those who live and work in Warwickshire with ethical saving and borrowing services. There to provide a financial community, with members mutually benefitting as there is no profit for third-party shareholders, Citysave recognises the importance of financial wellbeing.

Their services offer an alternative to traditional banks and building societies for saving and borrowing. They help members take control of their finances by helping to organise what money members could be saving to have a handy sum tucked away for a rainy day.

As well as savings, credit unions offer ethical loan rates compared to crushingly high interest rate loans through payday lenders and loan sharks which can cause short and long-term financial issues and distresses.

Cllr Kam Kaur, portfolio holder for customer and transformation at Warwickshire County Council, said: ‘Credit unions are perfect for meeting sudden expenses which puts you at ease amidst the current pandemic. With a small amount automatically deducted from either your salary every payday, or by standing order payment from your bank, it’s a good way to feel more secure with your finances, helping with your financial wellbeing.

‘It is a difficult time for many, and it is important we help our mental health as much as possible; protecting and organising our finances is a brilliant way to do that.’

Find out more and apply today at www.citysave.org.uk

 

Published: 15th October 2020