Flood victims offered helping hand by North Wales Credit Union

Labour AM for the Vale of Clwyd, Ann Jones has backed moves by the North Wales Credit Union to offer financial advice and assistance to help victims of the recent floods in North Wales.

North Wales Credit Union, which has offices in Caernarfon, Denbigh, Llandudno, Prestatyn, Rhyl and Wrexham, has announced that it will offer advice and extend its discounted interest rate on personal loans to help victims of the recent floods in North Wales.

Ann Jones said:

“This is a great example of our own local banking co-operative stepping up to the plate and reacting quickly in order to meet the needs of local people.

“Again, my sincerest thanks go to the responding agencies, local volunteers and residents from right across the community for the way they’ve responded to this local tragedy. I want to make sure that everyone gets the help and advice they need, that insurance companies pay out and that our communities are properly protected so that this tragedy is not repeated.

“Given the shocking scenes we’ve witnessed over the last week and the desperate situation some people find themselves in, I am concerned that illegal money lenders may target those who are seeking financial help in order to start rebuilding their lives and homes.

“People must avoid using these loan sharks as in some extreme cases they’ve been known to charge extortionate rates of interest and they feel no guilt about their immoral dealings even when it can lead to a life of financial ruin for some families.

“While it may be tempting to take that extra money in the short term the consequences can be dreadful. So, if you are struggling for financial help then I urge you to get in touch with your local Credit Union for advice.”

John Killion, chair of North Wales Credit Union, said:

“Having worked closely with flood victims for a number of years, we understand the full extent of the household damage and the financial implications that can occur as a result of flooding. One of our offices was in fact set up to help people manage the financial impact of coastal floods, so we have been very close to this issue for quite some time.

“We hope that the five per cent discount rate that we’re offering on personal loans will help those affected by the floods to start re-building some of the terrible damage that has impacted the area in recent weeks.

“North Wales Credit Union is a community owned and controlled financial cooperative that operates to improve and enhance the social, financial and economic well-being of its members.”

For more information about your local credit union contact North Wales Credit Union on 0333 2000 601 or visit www.northwalescu.co.uk