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8 August 2019 more...
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From 1 September, Broadland Housing tenants who join Norwich Credit Union and save regularly will get £25 added to their account. And in certain postcodes, tenants may even qualify for an extra £25 reward, making £50 in total.
Norwich Credit Union (also trading as Norfolk Save & Borrow) will pay £25 into the account of any Broadland Housing tenant aged 18+ who joins and saves regularly for 3 months (13 weeks). Tenants living in a central Norwich, Dereham, Great Yarmouth, Cromer or King’s Lynn postcode* may also be entitled to receive an extra £25 if they keep saving regularly for a further 3 months. This will be paid from the credit union’s ongoing StopLoanSharks promotion.
Jon Warne, President of Norwich Credit Union, explains:
“The aim of this special offer is to encourage Broadland tenants to get into a regular savings habit, so they have some money set aside for emergencies. For many tenants needing quick cash, the only option is an online or high street lender, or even a loan shark. Our local credit union provides a safe, low-cost alternative.”
Ivan Johnson, Broadland Housing, says:
“From Broadland’s point of view, we want to support our tenants to manage their money better, particularly with Universal Credit rolling out further across Norfolk this autumn. Rent arrears are a significant cost to housing associations. We’re also working with the credit union on other solutions to help tenants maintain their tenancy.”
Broadland Housing has hosted a credit union service point at its Dereham office every Thursday lunchtime since 2016.
Norwich Credit Union/Norfolk Save & Borrow have service points throughout Norwich and in Great Yarmouth, and also offer online services.
* To qualify for an additional £25 through Norwich Credit Union’s joint promotion with StopLoanSharks (www.stoploansharks.co.uk), tenants must live in an eligible postcode: NR1-NR7 (Norwich), NR19 & NR20 (Dereham), NR27 (Cromer), NR29, NR30 & NR31 (Great Yarmouth), PE30 (King’s Lynn).