News

News

16th October 2017: As at the end of September, we had:

  • 480 members
  • Total savings of £189,500 with £86,300 out on loan

Over the past three months, we have made 27 loans totalling £40,700

2nd October 2017: Welcome to our refurbished and relaunched website. Do let us know what you think of it! We welcome suggestions for improvements.

1st October 2017: Our loan interest rate increases to 1.25% per calendar month on the outstanding balance (16.1% APR) from today. This is due to the loss of grantfunding from Northumberland CC, but we believe it is still one of the lowest interest rates available for loans up to £3000. Pre-existing loans will continue to be charged at 1% interest per calendar month.