Somerset Community Credit Union: ‘Biting Back against the Loan Sharks’

Mayor of Bridgwater Leigh Redman and Chair of Somerset Credit Union Cllr Liz Leavy ‘biting back against the loan sharks’

Somerset Community Credit Union alongside the Bridgwater Town Mayor, Cllr Leigh Redman, and in conjunction with the England Illegal Money Lending Team are biting back against the loan sharks and illegal money lenders with their new promotion. This promotion is open to the first 50 new members to join the Somerset Community Credit Union from today, 15th September 2021, who successfully manage to save at least £10 a month for 3 consecutive months. In return for this they will receive a £25 bonus completely free provided by the England Illegal Money Lending Team and taken directly from the Loan Sharks themselves. This offer is open until 31st December 2021 and the £25 bonus will be paid directly into the members account by the end of March 2022. Only one new membership is allowed per household and the new member must have an income of less than £26,000 per annum.

Investigating ‘Loan Shark activity’

Raising awareness, helping and supporting people  against loan sharks

Launched 25 years ago and run by volunteers since 1996 the Somerset Community Credit Union, after several mergers, has grown steadily ever since. Our members share a common bond by either living or working within Somerset and pool their fully protected savings together to be able to grant low-cost loans to their fellow members.

The England Illegal Money Lending Team was set up in 2004 to initially investigate Loan Shark activity around Birmingham and has since grown to investigate and prosecute all illegal money lenders within England. In addition to this, and extremely importantly, they also support those who have fallen victim to these loan sharks. To date they have supported over 30 thousand people and written off over £87 million worth of illegal debt.

Raising awareness, educating, prosecuting and providing help and support against loan sharks is vital to help protect our local communities.

Together we are biting back against the loan sharks and making them pay.

Bridgwater Mayor Cllr Leigh Redman

For more information please visit the Somerset Community Credit Union website: www.somersetccu.uk or call them on 01278 447100 or on 01823 336425

To report a loan shark please call 0300 555 2222 or email reportaloanshark@stoploansharks.gov.uk. For more information please visit www.stoploansharks.uk

Speaking at the launch today at the Credit Union’s Victoria Park base, Mayor of Bridgwater ,Cllr Leigh Redman said “This promotion, open to all Somerset residents, will help local people start saving, it is open to the first 50 new members to join the Somerset Community Credit Union from today who successfully manage to save at least £10 a month for 3 consecutive months. In return for joining and demonstrating their willingness to save, they will receive a £25 bonus, completely free provided by the England Illegal Money Lending Team and taken directly from the Loan Sharks themselves. Together we are biting back against the loan sharks and making them pay.”

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