Beat The Heat of high-cost credit say SoundPound!

By Patrick Thorpe posted 28-06-2019 14:49:19


This week, promoting its third Credit Union Awareness Week, the Greater Manchester credit union consortium ‘SoundPound’ has launched its new campaign, ‘Beat The Heat’.

The Beat The Heat campaign urges people to be cool and prepared in the face of financial adversity and offers a call to action to get prepared for holiday or other expenses by choosing their local credit union for saving and borrowing.

“The eight community credit unions in membership of the consortium are having a great deal of fun organising activities around the theme of Beat The Heat, demonstrating that people are gaining so many benefits from saving for the first time, and borrowing with their local credit union rather than high-cost lenders,” says David Batten, Chair of SoundPound and CEO of Hoot Credit Union.

David added: “The campaign is spreading through social media and all credit unions, whether in Greater Manchester or not, will benefit from raising awareness of what credit unions are.

"There has been a lot of local media interest, radio interviews and positive support from key stakeholders. More importantly, we aim to bring more people into membership and encourage them to spread the word that what makes a credit union unique is that we are ethical community led providers of financial services that have their members' needs at heart."

Over 50,000 people in Greater Manchester are members of a credit union and have over £24m in savings between them. In 2018 Greater Manchester credit unions saved their members £7.5m in loan interest by encouraging them to borrow from the credit union rather than high-cost and doorstep lenders.

Stockport Credit Union this week welcomed Local MP Ann Coffey to their office who spent time learning more about the credit unions community work.  Manager of Stockport CU, Helen Willman said: “We were delighted to welcome Ann Coffey MP to our office during Beat The Heat week. Having our local MP's support is greatly encouraging and Ann's enthusiasm for the contribution that credit unions make locally day-in-day-out is very apparent. 

"Ann took particular interest in our savings and loan accounts for families and in our competitive prices fixed term savings account, which will be released soon in order to bring even more savings into the credit union."

Ann Coffey MP shared on her Facebook page: “The credit union has thousands of members across Stockport. I was pleased to hear about the success of their savings and loan schemes for people receiving child benefit. They have some exciting plans for a new savings account to be launched later this year."