Just Credit Union’s new partnership to stop loan sharks feature on BBC radio
20 Jul 18
Just Credit Union and the England Illegal Money Lending Team (IMLT) have joined forces to raise awareness of the dangers faced by people who borrow from illegal money lenders and are working in partnership with local community groups and housing authorities.
The initiative was covered by BBC Radio Shropshire’s breakfast show and in news bulletins throughout the day.
Tony Quigley, head of IMLT said: “Loan sharks spell misery for victims and these criminals often use underhand tactics to extort money from vulnerable people.
“We would always urge residents to check before they borrow and only use legitimate lenders such as Just Credit Union. Advice and support is available to anyone who has been affected by loan sharks.
Steve Barras, JCU’s Business Development Officer commented “We are rightly proud of this initiative and particularly the calibre of the partners who have joined with us to promote it. I was particularly pleased to be invited on to BBC Radio Shropshire’s breakfast show to discuss the initiative.
“In a wide ranging interview we discussed; how funds confiscated from loan sharks were being used in Shropshire to promote savings with Just Credit Union, the dangers of door step lending and the value of credit unions to the community”.
Karen Farrow, Chief Officer of Just Credit Union, said today: “Sadly, we have heard many upsetting stories of people who have fallen into the hands of loan sharks.
“Many loan sharks resort to bullying tactics such as intimidation, threats and even violence to enforce repayment and often won’t set an interest figure or have any form of paperwork.
“We want to make loan sharks history in our county so we are delighted to offer an incentive to show people there is a better, safe and more affordable way to manage their money.”
Money confiscated from convicted loan sharks will be used to support new accounts set up with Just Credit Union in Shropshire.
To lisen to the interview with Steve, please click through to the BBC IPlayer Radio here. (Interview - 2hrs 39 mins)