BBC One started showing a new series this week called ‘A Matter of Life and Debt’. It’s a documentary series about credit unions and responsible lenders across the country, telling the stories of people whose lives have been transformed by an ethical loan. The series is being aired Monday – Friday at 11am, and repeated on BBC2 at 7.15pm, until 20th October. Stroud Valleys Credit Union (SVCU) is one of the credit unions featured in the series and, on Wednesday 11th Oct and Monday 16th Oct, its members will talk about how a loan from SVCU helped them out of difficult financial problems, and transformed their lives by helping them to start new businesses.
Stroud Valleys Credit Union (SVCU) is one of over 320 credit unions that exist in England, Scotland and Wales and up to September 2016, more than one and a quarter million people had used credit unions. These organisations are co-operatives run by local people for local people, essentially a type of community bank. SVCU offers savings and loans to people in the Stroud district and Tetbury areas, and its low-cost loans can help people in vulnerable financial situations avoid resorting to payday or doorstep lenders or hire purchase shops whose high-interest rate loans can increase people’s debt burden.Taking a loan or opening a savings account with SVCU is also a good option for people who want to keep money within the local economy.
More information about the programme can be found at: http://www.bbc.co.uk/programmes/b09929s8