Credit where it's due; InsideView.Byline: Angela Clements Clements is a name that can refer to the following: People First Name Surname
HAVING spent my entire working life in banking, I came to work at Citysave Credit Union to help make a difference. I came here with strong opinions and high ideals about howwe can be better than the banks had become. Itwas easy to buy into the ethical values of an organisation owned and run by its members, where you are not a customer, where we take care of our membership and try to ensure that we improve their financial well-being. What I hadn't had·n't Contraction of had not. hadn't had not hadn't have understood until I arrived here, is that the credit unions are in a pitched battle pitched battle n. 1. An intense battle fought in close contact by troops arranged in a predetermined formation. 2. A fiercely waged battle or struggle between opposing forces. against a worse enemy than the banks - the high interest lenders and doorstep operators. We have many members who have been directed to us and who have shared with us some horrendous hor·ren·dous adj. Hideous; dreadful: "Horrendous explosions shook the whole city" Howard Kaplan. experiences, involving some of the well known lenders working in our city. Ann ANN, Scotch law. Half a year's stipend over and above what is owing for the incumbency due to a minister's relict, or child, or next of kin, after his decease. Wishaw. Also, an abbreviation of annus, year; also of annates. In the old law French writers, ann or rather an, signifies a year. was sent to us by a friend after buying a washing machine (storage) washing machine - An old-style 14-inch hard disk in a floor-standing cabinet. So called because of the size of the cabinet and the "top-loading" access to the media packs - and, of course, they were always set on "spin cycle". from one lender. She thought the affordable weekly payments were great, but didn't know she was going to have to pay additional charges for being late with a payment, or how aggressive they would be when she was struggling with the weekly payment. When the machine broke down, they took it away. It was gone for 11 weeks which, with a family of fivewas very difficult, and when it came back it still wasn't fixed properly, but she had to keep paying for it.Ann's mother had an even worse time, paying for a TV for two years, and after missing a couple of payments two men came round and took it away. She had paid for two years for nothing. The lender involved is one of many who have set up in our city, offering easy access to loans, and affordable weekly payments. With big advertising budgets, these companies are targeting a growing market during the economic downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. , as banks have become less keen to lend. Credit unions are not for profit co-operatives, where regular saving is encouraged and we try to provide value for money to our members. You may not have heard of us. We don't spend money on marketing and we don't pay agents. In fact you may feel we are one of the best kept secrets in Birmingham. So help us fight against costly doorstep lenders and pass it on. Angela Clements is Chief Executive Officer of Citysave Credit Union Ltd. She can be contacted on 0121 303 4013. |
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