Co-operative Electrical scheme 'offers savings to poorer families'
www.moneynews.co.uk > General finance > Co-operative Electrical scheme 'offers savings to poorer families'
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Co-operative Electrical scheme 'offers savings to poorer families'
Thu 10th Jun 2010
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David Sanderson, commercial manager at the company, made his comments after a partnership with Credit Unions was unveiled.
He explained this initiative offers an affordable alternative to loan sharks and high-interest finance that can often exceed 270 per cent APR.
"For those without access to credit or the available funds to take advantage of online discounts, the prospect of buying electrical products can be daunting," Mr Sanderson remarked.
In his view, the recent recession has left many people experiencing "financial exclusion", which can restrict the choices available to them.
The Co-operative Financial Services recently revealed 41 per cent of parents are illegally fronting their offspring's motor insurance policy in order to save them money, with 57 per cent realising that this practice is against the law.
Click here for more general finance news
Related News : General finance |
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Related News : Cooperative |
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