Tel: 0300 456 9990
Local Housing Allowance Budget Account Launches Today!
9th January 2012
Kent Savers are pleased to announce that we have launched an exciting new product that is available for applications from the 9th January.
The LHA Budget Account will act as an intermediary between a tenant who receives Local Housing Allowance payments and a private sector landlord, and will ring-fence funds intended for rental purposes.
It is intended that the LHA Budget Account will allow landlords to have more confidence in letting properties to tenants who receive LHA payments, whilst helping with tenants to budget and set money aside for their rent on a fortnightly or monthly basis.
Adam Fagg Product Manager says “It really is a wonderful initiative that will assist both landlords and tenants when renting a property. The project has been undertaken with great support from Maidstone, Medway, Sevenoaks, Swale and Tunbridge Wells local authorities as-well as the Kent Housing Group and guidance from the National Landlords Association and I would like to thank those involved. The hard work really does start now!”
For more information please contact Adam at adam.fagg@kentsavers.co.uk or 0333 321 9050
Payday loans: the APR is sky-high, the pain is higher still
13th December 2011
http://www.guardian.co.uk/money/2011/dec/09/payday-loans-get-cheap-credit
Kent Savers Budget Account-Full Steam Ahead
1st December 2011
Kent Savers are piloting a new initiative to ring fence Local Housing Allowance (LHA) payments to private sector landlords.
The Budget Account will act as an intermediary between a tenant who receives LHA payments and the landlord.
Working with Maidstone, Medway, Sevenoaks, Swale and Tunbridge Wells local authorities as-well as Kent Housing Group, the pilot will run for 9 months and is on course for a January 2012 launch.
Adam Fagg, Product Manager says It is a great initiative that will allow landlords to have more confidence in letting properties to tenants who receive LHA payments, whilst helping with tenants to budget and set money aside for their rent.
For more information please contact Adam at adam.fagg@kentsavers.co.uk.
District Of Canterbury Credit Union Merges With Kent Savers
26th September 2011
Friday 23 September was a very special day for Kent Savers; it marked the final step in the well organised and highly successful merger of the two credit unions. Kent Savers' membership increased from 635 to 1022 as the merger took place.
This is all part of Kent Savers' plans to provide a unique service to the people of Kent and Medway and it gives an extra stimulus to the organisation. People across Kent will benefit from the combined services of both credit unions. Chief Officer John Fowler has expressed his delight at the way the merger was handled; Staff at Kent Savers did a splendid job - all went absolutely to plan and the result is that those who have been members of Canterbury Credit Union are now members of Kent Savers and will continue to receive first class services.
Why Borrow from Kent Savers?
29th July 2011
Kent Savers interest rates on loans are highly competitive and lower then other providers.
For example, Lloyds TSB website quotes an APR of 20.9% as their representative rate for a loan of £4,000
Likewise, the NatWest website quotes an APR of 21.5% as their representative rate for a loan of £4,000
However, Kent Savers Credit Union offer a rate of 11.9% APR on ALL LOANS of £4,000 or over.
So with our competitive rates and no hidden charges, choose Kent Savers as your loan provider today!
3% Dividend Agreed for the People of Kent and Medway
9th May 2011
At its AGM on 20 April the members of Kent Savers Credit Union approved a dividend of 3% for those who saved during the financial year 2009/10. “This is a splendid start for Kent Savers,” says John Fowler, Chief Officer of Kent Savers. It is a great reward to those who have invested with us and who have enabled us to provide very reasonable loans to the people of Kent and Medway. Although 3% is a very good rate of return for our savers, we cannot predict what next year’s equivalent may be. The proposed dividend always depends on the end of year figures which we then use to determine just what we can offer to our savers. But this has been a fantastic start and we are delighted; so are our savers!”
The minutes from the AGM can be found below.
Download Minutes AGM 2011 (24.5kb)
March and April Set Savings Records
3rd May 2011
Over the last two months more than £80,000 has been invested in Kent Savers by people across Kent and Medway wanting to save with the credit union. This has doubled the savings balance and Chief Officer, John Fowler says, “Saving with a credit union is not only very safe but also provides resources to enable ethical loans at very reasonable rates for borrowers. Those who have saved are eligible for the dividend agreed by the AGM in the next financial year and their money is protected by the Financial Services Compensation Scheme. But very importantly the money they invest with us is used very responsibly and enables us to deliver decent loans to the people of Kent and Medway. Saving with Kent Savers is ‘win, win, win’.”
Kent Savers-Off to a Cracking Start
15th April 2011
It has been reported that Kent Savers got off to the best start of any UK Credit union when, in its first year of operation it delivered a loan book of over £1/4m to 235 borrowers and generated a savings balance of £87k. The Credit union which covers the whole of Kent and Medway is just over a year old and is already delivering a range of innovative and popular services. Loans Officer, Denis Buckley says ‘It is good that we were off to such a promising start and we are pleased to have made a special impact. But there are still thousands of folk across the county who are being ruthlessly exploited by loan sharks and who are paying outrageous rates of interest to other legal lenders. We have loads to do in order to ensure that the services we offer meet the needs of the people of Kent and Medway’. As a Credit Union, Kent Savers operates on a ‘not-for-profit’ basis; any available profits are shared by its members.
So Why Should I Save?
2nd February 2011
Saving with Kent Savers presents a unique opportunity to gain significant dividend whilst at the same time ensuring that your money is safe and being used responsibly. The board of Kent Savers is recommending that the dividend rate for savers over the last year should be 3%.
Two members explain why - and how - they have saved with Kent Savers. Do read these fascinating stories and, should you think you might like to follow their example, do please get in touch.Download Taylor Made Investment for Kent Savers (1207.6kb)
Download An Investment Storey (33.8kb)
Get your MP to call for a cap on the cost of credit!
28th January 2011
There is a debate in Parliament on Thursday 3 February about consumer credit regulation. Britain is unusual in that we do not have a law capping the total cost of credit companies can charge. This debate is an opportunity to start changing that - and you can help.
Please take a couple of minutes to email your MP and encourage them to take part in debate.
Many MPs are concerned about the ever growing use of high-cost lenders. The debate initiated by Stella Creasy (Labour/Co-op) and Justin Tomlinson (Conservative) focuses on capping the total cost of credit – not the annual percentage rates. This is to make sure that legal ceilings do not distort the market, and that lenders cannot avoid them by applying high administration fees or repayment charges.
Prime Minister States Government Commitment to Supporting Credit Unions
http://www.abcul.org/media-and-research/news/view/88
