Talk to us before it becomes a bigger problem
09 May 2022
It’s Mental Health Awareness Week (9th – 15th May) and as a credit union provider we feel very much a duty of care to our members as many tackle debt. Debt can be just one factor contributing to a decline in mental health and often it’s not something people want to talk about.
At the Harp and Crown Credit Union Limited, we want to encourage, in fact urge, our members to come forward to discuss the many debt consolidation options available.
We are a not-for-profit organisation providing financial services to the policing community and their families across Northern Ireland. Made up of a secure workforce, we seek to support all members of our common bond to achieve their desired financial stability.
A stipulation of becoming a member of the Harp and Crown Credit Union is to set up a savings account, ten pounds per month will keep their membership active. We very much follow the ethos of “save as you borrow” to keep on top of your finances.
EDIT: April 2023: As a credit union we care for our common bond community and strive to give back to our members annually. In 2022 the Harp and Crown Credit Union dividend of 1% (and Loan Interest rebate where applicable) was credited to member accounts in December 2022.
We will never knowingly lend to a member if we believe they are not managing their finances or can’t afford it. Members can expect a personal, professional, and confidential service from our Loans team, and we will always explain why a loan has been declined or otherwise. Likewise, our team will work with our members to find the best solution for them, sometimes this isn’t clear from the offset due to the reluctance of sharing their debt circumstance.
One such instance was a member who recently approached the Harp and Crown Credit Union team to borrow a substantial loan for home improvement. It later transpired from credit checks and one-to-one discussions with a Loans Officer, the member had several loans and credit cards payable each month at very high interest rates. Ultimately, they needed to consolidate their debts. The member was successful in their application for a £30,000 loan at a very competitive rate, this resulted in them saving over £1,000 per month in interest payments. Without this debt consolidation solution, the member could have potentially spiralled into further unmanageable debt.
Do you find yourself in a similar situation, paying off loans or credit cards at extortionate interest rates? Talk to us about managing your savings for the future and with no commitment to lend, our team are here to help you.
We are open Monday to Friday 9am – 5pm. Call in and speak with our friendly team at Newforge Lane; call us on 028 9068 5198; or you can email us at creditunion@harpandcrown.co.uk. For further details on our loan products click HERE.
