Work not worry
How credit unions can help reduce financial stress affecting work
26% of working age adults in the UK have no savings and 29% have less than £1000. The credit union can help employees in a number of ways, primarily by encouraging saving as a way of preventing over indebtedness. It can also offer support to staff that need assistance with things such as budgeting, and crucially, offer a low cost source of credit which can greatly reduce the cost of borrowing at those times when it’s necessary. Research shows that those struggling with unmanageable debt are highly likely to report stress and mental health problems. Indebtedness reportedly arises from the likes of rent, mortgage credit-card and overdue utility bills. Read Angela's story to see how joining a credit union helped reduce her financial worries.