Credit Union kicks off £20m festive campaign

Leeds Credit Union has launched its largest-ever Christmas loan campaign to help to tackle rising costs in the festive season.

- by Jennifer Cartwright

To help families to manage spending, the not-for-profit lender will offer affordable and flexible loans ranging from £250 to £25,000, available up until Christmas.

The campaign aims to save local people a total of £20m in interest charges across the winter months.

Leeds Credit Union estimates that a third of its lending throughout the year takes place in the run-up to Christmas.

Leeds Credit Union chief executive officer James Brown said: "At this time of year your heating bill goes up because it’s getting a little bit colder outside and there’s more pressure on some people, especially for families, as kids get excited for toys under the tree.

"When people don’t necessarily have savings, they can come and get a small loan from us."