Campaigns: Responsible Lending and Spending at Christmas Launch

Christmas can be one of the most stressful times for those facing financial hardship and can lead to those in need seeking loans from illegal lenders. In the run-up to Christmas, local organisations across the city came together to raise the importance of Responsible Lending, Responsible Spending.

This collective, comprised of the Foyle Network Foundation, Community Restorative Justice, APEX, ASK advice service, Skeoge Community Hub, Derry, Waterside, and Pennyburn Credit Unions, have been working together on their concerns around illegal and high-interest lenders.

Foye Network Foundation’s Director, Karen Mullan, stated:

“We have seen an increase in people who are struggling with rising household costs accessing loans from unreputable bodies and being charged extortionate high interest rates. This is pushing them further into debt and poverty.”

Joan Gallagher, CEO, Derry Credit Union stated

“Derry Credit Union are delighted to be associated with the ‘Responsible Lending, Responsible Spending’ campaign. Our credit union can help you plan your Christmas spending, enjoy the festive season and ensure that the cost of Christmas 2024 is not a burden and an additional worry in the new year.”

A representative from Pennyburn Credit Union stated

“We are proud to join with Foyle Network Foundation and local groups to advocate for Responsible Lending and Responsible Spending. Our priority is to empower members with safe, ethical lending choices. We’re proud to support this campaign and bring awareness to the risks of harmful money lending, especially as we head into the holiday season, when financial pressures can be overwhelming. We encourage anyone who has been impacted by harmful and/or high-cost lending to consider the Credit Unions as their lender of choice.”

To promote safe lending and spending, the Foyle Network Foundation launched our Christmas Billboard Campaign on 19th November with the support of Mayor Lillian Senoi-Barr.

Any of the groups can be contacted for further information or support.

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