We reward Greenwich savers with cash from loan sharks

Stop Loan Sharks are working with Credit Unions in Greenwich to sponsor new credit union accounts and boost savings with money the team have confiscated from illegal money lenders.

We are working with the Royal Borough of Greenwich Trading Standards, Greenwich & Bexley Credit Union and Peabody Community Foundation to encourage people to save safely for the future and stay away from loan sharks.

This joint initiative will see the first fifty people who join the credit union and make at least three monthly payments in a row qualify for a savings boost of £20.00.

Alan Stevens, President of Greenwich & Bexley Credit Union, said of the scheme:

“All our members’ savings are fully protected by the Financial Services Compensation Scheme and members can take out a very low cost loan when they need to borrow. We are a safe and legal alternative to loan sharks and we benefit the local community.”

Those living or working in Greenwich & Bexely can apply online at www.gbcreditunion.com or visit the offices at 48 Thomas Street, Woolwich or 2 Archery Road, Eltham.

Stop Loan Sharks are here to help and get people away from loan sharks. Our team are available 24/7 on 0300 555 2222 or complete our secure online reporting form to report an illegal money lender.