Stop Loan Sharks - Today is International Credit Union Day - 15th October
This year's theme is "Inspiring hope for a global community."
Stop Loan Sharks have partnered with over 110 Credit Unions in England to promote responsible saving and lending. Credit unions encourage members to save regularly, provide loans at low rates, and help members in need of financial advice and assistance. It’s important that we help people to save and build up their financial resilience, protecting them against future unexpected events and falling into the trap of unscrupulous loan sharks.
This year protecting people against loan sharks is more important than ever. The coronavirus crisis means more people are facing issues - from employment and debt, to housing and health - resulting in more people being in vulnerable situations.
Continued economic uncertainty during the coronavirus pandemic, with many people facing redundancy, means loan sharks may look to take advantage of people in a vulnerable position who feel they have nowhere to turn for help.
These unscrupulous individuals target the vulnerable and make money persecuting those who can least afford it. As a society we need to protect those at risk and ensure illegal money lending is a thing of the past. Credit Unions are a huge part of the solution by offering affordable, responsible loans, they give people who need a little extra help from time to time, a safe and reliable option.
Help us spread the message that loan sharks are not the answer to financial difficulties. We must help people avoid loan sharks and provide information on where to access support from safe and ethical alternatives. There are actions we can all take to report them, share stories and raise awareness of illegal money lending to safeguard ourselves and others.
Find a credit union near you: www.creditu.co.uk
To report a loan shark
Call the 24-hour confidential helpline on 0300 555 2222
Complete a report form online at www.stoploansharks.co.uk.
Talk to our trained staff and get information and support via Live Chat on our website 9am-5pm, Mon-Fri.