The coronavirus (COVID-19) pandemic has turned every aspect of our lives upside down and it can be more than a little disorientating. Being shut up indoors, strongly advised to avoid friends and family and with every imaginable outlet for family entertainment closed, many households are wondering how they will make it through the looming months of boredom and isolation.
But one aspect of the crisis that has been little explored is the opportunity it creates to spend some time thinking through your finances. For some it could be a real opportunity to take back control of what only a fortnight ago might have felt like a never-ending treadmill of earning and repaying, earning and repaying.
Provided you have been lucky enough to keep your job and not be directly affected by the virus, you may find that with all your usual leisure pursuits unavailable, your disposable income starts to mount up in savings. You’re hardly going to be spending it down the pub on Friday night…
And with most of our members working in Co-op supermarkets, many will be fortunate enough to be able to set their financial lives on a more sustainable path thanks to the enforced saving that comes of the coronavirus lockdown.
Consolidate and Save with The Co-op Credit Union
We could help you to avoid expensive interest rates by offering an affordable credit facility to consolidate your debts and give yourself some breathing space with a manageable monthly repayment and a significantly lower interest rate. We can talk you through your payment options and help you decide on the right repayment schedule for you.
We offer a range of convenient payment options from direct debit to payroll deduction for those working for one of our employer partners, such as Co-op supermarkets and funeral homes. And we will help you to start saving alongside your loan so that when the need arises in future you can avoid credit altogether.
There is more information on how we can help you take back control of your finances available here.
Impacted by the coronavirus crisis? Don’t bury your head in the sand, talk to us
We understand that many people are really worried about how they will keep the show on the road as the coronavirus crisis begins to bite and the lockdown imposed across the country gives companies the unenviable task of choosing between layoffs and bankruptcy.
If you are in this position and you are a member of The Co-op Credit Union, we are here to help you. Whether you are a current borrower and you’re not sure if you can keep up with your repayments, have debts elsewhere that you’re struggling to pay back or have a temporary income shortfall due to enforced isolation, we are here to help.
Get in touch today to understand how we can help you through this crisis just as we have been helping our members afford their lives for over 20 years.