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Smart Money Cymru Credit Union warns against loan sharks in new marketing campaign

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26 Apr 19

Smart Money Cymru Credit Union is launching a new marketing campaign, to raise awareness of the credit unions services.

The Welsh credit union has joined forces with the Wales Illegal Money Lending Unit (WIMLU) to highlight its loan products as an alternative to borrowing from illegal or high interest  money lenders.  SMCCU partnership with WIMLU has strengthened following an increase in the number of illegal money lenders operating throughout the Borough.

Over the next two weeks each household within the Caerphilly Borough will receive a cartoon style leaflet outlining three different borrowing scenarios, each with different outcomes. The aim is to encourage people to move away from borrowing from illegal money lenders and highlight there are alternative options available to them.

Smart Money currently have over 4,500 members already taking advantage of its products and services.  Cymru General Manger, Andrina Davies is thankful that Smart Money’s partnership with WIMLU is benefitting the community and hopes the new leaflet will give communities a clear understanding of the benefits with partnering with a credit union. Andrina said: “Working with the Illegal Money lending Unit has helped Smart Money Cymru develop an attractive and informative leaflet which highlights the difference of borrowing from various sources and advertises the benefit of borrowing from a credit union.”

The information leaflet was launched at Phillipstown Fun Day and School Fete which was sponsored by Wales Illegal Money Lending Unit and Caerphilly County Borough Council. All costs associated with the production and distributions of the leaflet were covered by cash and assets that have been forfeited by Loan Sharks.

 

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