News / Bristol Credit Union
Zero interest loans available for NHS workers
NHS workers are able to access zero interest loans thanks to a new scheme launched by Bristol Credit Union.
Bosses of the not-for-profit cooperative say they were in a unique position to act quickly and help support people working on the frontline during the coronavirus pandemic.
The new scheme was introduced on March 30 and the first zero interest loan was made within five days of the launch. The loans have been specifically designed to support NHS staff who face unexpected costs or who can’t afford essentials during the outbreak.
James Berry, CEO of Bristol Credit Union said: “As a credit union, we are in a unique position to act quickly to support our vital NHS workers during this unprecedented strain on health services.
“People working on the frontline of the NHS should be able to do their jobs without having to worry about managing unexpected financial strains or the impact of interest rates during this difficult time.
“At Bristol Credit Union, we stand with the NHS staff who are working tirelessly, day and night, to keep us well. If you know of anyone who is an NHS worker who would benefit from this type of loan, I urge you to tell them about what Bristol Credit Union is doing for them.”
Berry added: “There really is no catch. If you’re helping save lives in the NHS then we want to help you with whatever urgent financial need you might have. If you promise to pay us back, and can afford to, then we will help with no fees or charges at all.”
James Berry says the aim is to support frontline workers. Photo courtesy of Bristol Credit Union
The loans are zero interest and carry no fees or charges. They will be subject to affordability checks and are targeted at essential current needs.
Bristol Credit Union also plans to introduce reduced interest loans for the self-employed.
More information about the loans is available via www.bristolcreditunion.org/loans.
Main photo by Martin Booth
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