Clevr Money Write to Local Politicians to Urge Community to Join the Credit Union

Tuesday 23 January 2024

Following the national sub-prime lender’s doorstep loan operation went into administration in March and stopped trading in May. Based in Lancashire, CLEVR Money welcomed its advice directing people to affordable providers, especially credit unions and has launched its initiative to seek out and help former Provident customers across Blackpool, Preston, Fylde and Wyre.

Backed by Blackpool Council, Preston City Council, CLEVR is writing to all local councillors, MPs, housing associations, the Citizens’ Advice Bureau, and its payroll partner member organisations – including hospitals, schools and private businesses – asking them to direct former Provident customers to the credit union.

The team has also created a new loan product specifically to help those struggling to cover bills and other repayments, following the loss of the Provident option, named the CLEVR Doorstep Replacement Loan.

Anthony Brookes, Loans Manager for CLEVR Money, said it is trying hard to make sure people know about the ethical alternative on offer: “While many of us in the responsible lending sector is pleased when any high-interest lender withdraws from the market, we know it leaves leave thousands of people in limbo when it comes to getting credit in the future.

“We prioritise people over profit, working directly with them to help sort out debts and put them on a track to better financial health. In the wake of the Provident collapse, we have created a new Doorstep Replacement Loan to assist. I will speak directly to each caller to understand their circumstances and recommend the best course of action for that individual.”

Councillor Matthew Brown, Leader of Preston City Council, said: “The past year has been very difficult for a lot of families who have either lost jobs or seen their hours significantly cut as a result of COVID which has put a strain on finances and household budgets.

“It is important that people in need of finance have access to fair and affordable loans to avoid falling into the trap of payday and online lenders that charge high levels of interest and often contain hidden costs which can compound problems for struggling families.

“Credit unions can be a great way for people to access loans at an affordable rate and contribute to community wealth building as not-for-profit financial cooperatives. I’d encourage anybody unsure about accessing a loan and their options to contact the Citizens Advice Bureau to discuss their options and get advice.”

Source – Blackpool Gazette