Westcountry Savings & Loans Awarded National Accreditation for Tackling Loan Sharks

Thursday 13 November 2025

Westcountry Savings & Loans (WS&L) credit union has been formally recognised as an Accredited Partner by the England Illegal Money Lending Team (IMLT), in recognition of its work to raise awareness of the dangers of loan sharks.

As well as offering ethical loans and safe and secure savings accounts, the credit union provides financial wellbeing information on its website, through its social channels and at community events and drop-ins. These include information provided by the IMLT on how to recognise and report loan sharks. WS&L also supports the IMLT’s seasonal campaigns and shares its news, such as details of its investigations and prosecutions.

Steve Thorrington, WS&L’s CEO, said he was delighted that WS&L had been awarded Partner Recognition status by the IMLT. “As an ethical lender flying the flag for financial inclusion at a time when demand for our services continues to rise, we are acutely aware of the negative impact that loan sharks have on local communities,” he said. “The removal of every loan shark is a step towards greater financial autonomy, increased health and wellbeing, and improved social cohesion. We’re therefore thrilled to be taking our support of IMLT’s vital work to the next level and joining other organisations in the fight against illegal moneylending.”

Dave Benbow, Acting Head of England Illegal Money Lending Team, said: “We would like to congratulate Westcountry Savings & Loans on their partner recognition award and thank them for their outstanding efforts tackling loan sharks.”

He added that loan sharks are criminals that prey on the most vulnerable people in our communities, trapping their victims into spiralling debt and often using intimidation and violence. “We will not tolerate illegal money lending and would urge anyone with information about this crime to report it as soon as possible,” he said.