News has hit the headlines that Wonga made the equivalent of £1m-per-week in profit last year. In our latest issue of Which? Money we looked at whether payday loan providers can be competed out of business.
Posts tagged with "credit-unions"
Why is it that many of the savings schemes used by people on lower incomes offer very little protection if something goes wrong? It’s time to get tighter on the rules governing savings products to help the poorest.
If you want to see a return to a ‘traditional banking’ model, look no further – it already exists in the credit union. It’s now time for this Cinderella to take her rightful place at the banking ball.
The payday loan market was worth around £1.9 billion last year. APRs of over 1,000% are common. So is it time to limit the interest rates they charge? Martyn Saville talks to Mark Lovell, Executive Chairman of A4E.
When savings club Farepak went into administration, Christmas wasn’t just delayed for thousands back in 2006, it didn’t come at all. Now it looks like savers will get some compensation, but is it enough?
The Co-operative has launched a corporate social responsibility programme, setting a new standard for the industry. Is it time to put our money where our mouth is and switch to an ethical provider?
Banks are paying millions of us pitiful rates on our savings. At the same time they’re refusing to lend to anyone without a near-perfect credit score. A short-term solution? It’s time to give credit unions a look.