September 20, 2013 3.35 pm This story is over 99 months old

Lincolnshire Credit Union stars on BBC show

Don’t get ripped off: A local credit union will be on a BBC show explaining how to avoid pay day loans next week.

A Lincolnshire organisation is set to appear on a BBC series next week.

Lincolnshire Credit Union (LincUp) will be on the new BBC series of Rip Off Britain on Monday, September 23 at 9.15am.

The programme will look at how residents can find credible alternatives to pay day loans if they are short of cash.

John Eames, chairman of the Lincolnshire Credit Union, said: “We were delighted to be asked to take part in the programme.

“It will be an excellent way to raise the profile of credit unions as a viable and ethical alternative to pay day loans and highlight ways in which we can help financially vulnerable families.”

He added: “We know that we are in difficult financial times and increasingly people are resorting to pay day loans to supplement their income.

“Many end up paying extremely high rates of interest which in turn leads to even more debt and financial hardships.

“We want people to know that Credit Unions are a simple alternative and can offer easy ways to save, get affordable loans as well as a range of other financial benefits.”

Nick Dawes, service manager at Lincolnshire Trading Standards, added: “It’s so important that people know that if they are strapped for cash, that there is help available. Pay day loans are not the only option.

“Lincolnshire County Council, together with partners, is working to try to let residents know of the viable and safe alternatives from borrowing from the banks, doorstep lenders and payday companies.

“LincUp is a great solution as it offers secure low interest loans and a range of flexible savings accounts.

“As well as this, by saving and borrowing with LincUp they are investing in their local community.”

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