East Lancs Moneyline and Moneyline Cymru

New Loan Office Opened 2012

A new loan office has opened in January 2012 at the Salford shooping centre.
76 Pendleton Way
Salford,M6 5FW
Tel: 0161 7636500

Moneyline shortlisted for Guardian Social Enterprise Award 2011

East Lancs Moneyline (Moneyline Cymru) is proud to announce that they have been shortlisted for the Guardian Social Enterprise Award 2011.

The Guardian Social Enterprise Award, which is supported by Bates Wells and Braithwaite and Haysmacintyre seeks out the UK's most promising social enterprise that have the potential to make a big impact.

The Judges will meet on Tuesday 8th November 2011 where the four outstanding finalists will be showcased at the Guardian Social Enterprise 2011 summit, where delegates will vote for the overall winner.

Moneyline win's Credit Today 2011 Award

Moneyline wins CreditToday award 2011 for the "Best Responsible Lender Of The Year" for short term loans.

Kamala Panday, Publisher of Credit Today said "Now in its 12th year, and as we gradually move out of the economic downturn, the awards are more important than ever to reward those professionals going the extra mile and doing complicated jobs at difficult times. The calibre of business that enters the Credit Today Awards is always extremely high, and this year was no exception. Amid some brilliant competition, Moneyline has done exceptionally well to win displaying both a responsible approach to working within the industry whilst also showing a great adherence to best practice and quality – features that are crucial to a market that is at the centre of the economy. I, and the rest of the team here at Credit Today, are in no doubt that they are set for another successful year.”

Celebrating One Year of Moneyline Cymru

Moneyline Cymru celebrated its first anniversary on 3rd November with addresses from Jocelyn Davies AM, Nick Bennett from Community Housing Cymru, Lindsey Kearton from Consumer Focus Wales, Lucia Gillespie from Wales Illegal Money Lending Unit and Nigel Draper, Moneyline Cymru Chair, who explained how Moneyline Cymru is already making a vast improvement to tenants’ lives.

See photos from the event here or download our Anniversay Newsletter 2010.

Illegal Money Lending

‘Don’t get bitten by loan sharks’ was a campaign run by Community Housing Cymru to raise awareness of the scale of the problem of loan sharks and to educate tenants that borrowing even a small amount of money could mean paying back thousands of pounds in interest. The campaign ran for the month of November 2009 with two emotive television adverts on ITV Wales and S4C, and provocative posters featured on buses the length and breadth of Wales.

Anyone who is a victim, or knows a friend or family member affected by a loan shark’s activities, should call the Wales Illegal Money Lending Unit. This Unit has been set up to tackle the problem of illegal money lending in Wales. Many illegal money lenders (loan sharks) have operated without impunity and use fear and intimidation to carry out their business.

The loan shark usually charges extortionate rates of interest which can run into thousands of percent, creating a situation where the borrower is never able to repay the loan. However, remember that the debt to a loan shark is illegal and does not have to be paid.

The 24 hour hotline number is 0300 123 3311 and all calls are confidential.

There are a number of other organisations who can offer FREE advice and support, and others, like Moneyline Cymru, who can provide you with a loan for a fraction of the interest charged by doorstep lenders.

Loan Shark Adverts

Debt, doorstep lenders and how one man broke the cycle

Community Housing Cymru, the umbrella group of 18 housing associations behind the not-for-profit Moneyline Cymru, estimates that 70% of those living in council or housing association properties are unable to access mainstream credit.

Their research showed that as a result, these "financially excluded" were using high interest doorstep lenders, tempted by the low weekly repayments and ignoring the high interest rates of around 252% APR.

In extreme cases, financially excluded tenants were turning to loan sharks for funds. Click here to read how Stephen broke the cycle from doorstep lending.

UK Housing Awards 2010 Finalists

The Chartered Institute of Housing have announced the finalists for the UK Housing Awards 2010 to be held on 10 November 2010 in the Hilton Hotel, London. We are pleased to confirm that Moneyline Cymru have been shortlisted as a finalist in the Outstanding Achievement in Housing - Wales category in the 2010 UK Housing Awards.

Moneyline Cymru was set up to tackle doorstep lenders and provide a cheaper alternative to those who cannot borrow from a bank or credit union. Moneyline Cymru opened five outlets in South Wales in 2009 and has helped a number of people borrowing from doorstep lenders to pay off their debts and save money.

The nomination is very pleasing as it follows the Housing Heroes Awards for Groundbreaking Service Team of the Year for the establishment of Moneyline Cymru earlier in the year.

Bank Accounts

We have recently entered into a partnership with Royal Bank of Scotland / Nat West in Wales that enables our staff to open basic bank accounts on behalf of the bank.