Camelot Credit Union loans available for Yarlington tenants (From Yeovil Express)

Camelot Credit Union loans available for Yarlington tenants

8:00pm Monday 1st February 2010 in News By Steve Sowden

YARLINGTON Housing Group has formed a partnership with the Camelot Credit Union to offer a loan facility for tenants in the Yeovil and South Somerset area.

Those tenants who have a good rent payment and tenancy compliance record and have demonstrated sound financial management will not be required to meet the usual criteria of a savings history with Camelot, as their proven track record with Yarlington will provide sufficient evidence of their credibility, regardless of credit history or rating.

This will enable tenant to take out loans, at the lowest end interest rates in the current market, to cover those unforeseen events, and avoid the dangers of disreputable loan providers.

They will also be able to make repayments on their loan at the company’s head office in Yeovil, during normal office opening hours, in addition to the facilities offered by Camelot across the area. Yarlington’s financial inclusion officer, Janet Howarth, said: “This is a tremendous benefit to our tenants.

“It is often the spiralling interest charges rather than the loan itself that becomes unmanageable, so to be able to get a low interest loan will save so many knock-on problems. I can see it being a huge success.”

The Credit Union, which has been operating since 1999, was set up in Yeovil to provide a facility across South Somerset to help people manage their money.

Showing people how to save for the things they need is the first principle of the organisation, but there are always times when the unexpected happens and funds are needed urgently.

Anyone who wants more information on the Credit Union or the loan scheme should telephone 01935-413038 or e-mail info@camelot.org.uk .