Come to us - not payday lenders

Anthony Rutherford is right to highlight the case of Payday Lenders and the high rates of interest they charge (Your Say 15th December).

Here at the Calderdale Credit Union we are well aware of Payday Lenders and so-called easy-access credit outlets. While a cap on interest rates may be a solution, this has to navigate the torturous route of Parliament and will take time. We believe the best immediate short-term solution is for people to come to us.

Calderdale Credit Union has grown rapidly in the last three years and now holds £3.5 million of assets and has nearly 5,000 members.

We offer two loan products with an annualized APR of 12.7% and 26.8%, and applications for a loan are processed quickly.

As a member-led organization any surplus we generate is distributed as an annual dividend for savers and new projects to grow the business for the benefit of the community of Calderdale.

Our telephone number is 01422 393106, or call in and see us. We are located opposite the Central Library in Halifax and have subsidiary offices in Ovenden and Todmorden. We are a lower-cost alternative to anyone considering using a payday or easy-access lender. Don’t go to them – come to us.

Andrew Feather

(Treasurer – Calderdale Credit Union)