Credit Union TV campaign underway
Minister for Local Government and Communities Carl Sargeant has welcomed a television advertising campaign aimed at making people more aware of what credit unions do and the help they can offer.
The advertisement has been commissioned by The Social Investment Business on behalf of Welsh Credit Unions and will hit our screens this week.
In order to highlight Credit Unions as an alternative to high cost providers the advertisement explains that Credit Unions do not charge arrangement fees, have no hidden costs and will charge no more than £68 interest on every £500 borrowed over a period of twelve months.
Scheduled during primetime slots on ITV daytime television the adverts will run for a four week period and will encourage people to telephone the credit union helpline or visit the website to find out more.
The launch of the advertising campaign comes in the same week that an independent evaluation of the Welsh Government’s Access to Financial Services Through Credit Unions Project is published.
Carl Sargeant said:
“Our programme for Government includes a commitment to deliver our Access to Financial Products through Credit Unions Project. The evaluation of phase one of this project considers how effective the project has been so far in supporting a well managed, sustainable movement that can deliver credible and professional financial products and services.
“I am pleased that the report has recommended that the Welsh Government and WEFO continue to fund the project. As well as meeting most of its phase one WEFO targets, the report found that phase two of the project is also on course to achieve its targets.
“I welcome the efforts being made by Credit Unions in Wales to raise the profile of the work they do to support people in communities around Wales. This advertising campaign is a further step forward in bringing to light the important work Credit Unions do.
“In the current economic climate and pressures on family budgets, it is important that people who consider taking out a payday or other loans from higher cost lenders know that more affordable alternatives are available.”
Source: Welsh Government