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Financial Wellbeing - Debt and Credit Unions

In these strange times, many people have questions about their finances, so we’re coordinating some helpful resources.

The Money Advice Service

The coronavirus outbreak is an incredibly stressful period, because although this is a health-based emergency, it’s also a financial-based emergency too. The more you can do now to plan ahead will save you time and energy – and importantly, money– when you might not be feeling at your best.

The Money Advice Service have published guidance on how to deal with financial issues.

Our guides include topics such as:

    Christians Against Poverty

    We are on a mission to release thousands of families from grinding poverty through award winning debt counselling and community groups. By equipping and empowering local churches to reach out on their doorsteps, we’re bringing hope to tens of thousands of people every year.

    Where to get free debt advice

    The Money Advice Service Debt Advice Locator Tool lists organisations that provide free help to people and hold an accredited quality standard. If you’re struggling with debt, it can be hard to know where to turn. But with lots of free advice services available. Don't struggle alone - there is help available.

    Credit unions offer an ethical alternative to traditional banks and building societies for saving and borrowing.

    Did you know? (based on www.moneysavingexpert.com/loans/credit-unions/)

    1. A credit union is a community savings & loans provider, owned by its members.
    2. Credit unions are not-for-profit
    3. Credit Union members share any profits made, instead of paying outside shareholders, like most other financial institutions.
    4. Credit unions are for everyone! This can often mean helping those who can’t get access to ordinary bank products
    5. They are a welcome alternative to payday loans or doorstep lending, because they offer much lower interest.
    6. Your money is safe - credit unions can’t lend out all their members’ savings or plough the remainder into anything that carries too much risk. All money in savings with credit unions has the same FSCS Government protection as bank savings accounts.

    Sussex Credit Unions

    Click on the buttons below to locate a Credit Union in your area.

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