Could you benefit from Kent Savers?

A new ethical and sensible financial service is now available to all the people of Kent.  And, best of all, it's run in the interests of its members on a not-for-profit basis.

Tens of thousands of Kent residents are paying over to 2,000% APR on loans and Kent Savers is determined to tackle this rip off and be the alternative to the doorstep lender, cheque casher and “pay day loan” company.  The absolute maximum rate charged by Kent Savers is just 26.8%

Typically a £500 loan - repaid at £11 per week for 52 weeks - costs just £70 in interest. That’s over £400 cheaper than some home credit companies.  If you’ve had trouble with credit in the past you can still apply.

All members of Kent Savers automatically receive a savings account.  If you repaid the loan in the example above - and topped your payment up to £15 per week - you would have over £200 saved up by the end of the loan, reducing your need to borrow in the future.

Kent Savers is a credit union – a financial co-operative owned and controlled by its members.  Any profits are either reinvested in the organisation or given to its members in the form of a ‘dividend’ which is equivalent to receiving interest on their savings.

The credit union began operations in March 2010 and has already made loans of £400,000; it has over 600 members.  

If you are interested in joining the money revolution, please visit http://www.kentsavers.co.uk/ or phone on 0333 321 9050

You might also be interested in our quick rent links for information about paying your rent.