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Council loans £250000 to credit union

London Capital Credit Union to receive £250,000 loan from Haringey Borough Council

06 March 2014
Debt loans
Loan Money

Haringey Borough Council has loaned £250,000 to a credit union as part of a campaign to tackle predatory payday lenders.

Cash given to London Capital Credit Union aims to help thousands of hard-up families avoid the excessive interest rates charged by payday loans companies.

The credit union has issued more than 1,100 new loans worth nearly £1million to Haringey residents since October 2012.

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