It is a warm feeling when we look forward to the future with optimism. Such optimism often centres around the hopes and dreams we hold for both ourselves and our loved ones. How often do you say “I wish…..”. 2020 can be a year of delight, a year when members can help other members make their wishes come true in a way that was restricted until recently.
From this January, new regulations have greatly enhanced credit unions’ ability to provide longer-term loans to their members. In many cases, these are the loans that bring our wishes to life. Like a bigger kitchen, or an extra bedroom as family numbers expand and everyone needs just a bit more space. Or maybe just something that eases the pressure and allows life to run that bit more smoothly. Some wishes are not magic – they are granted by people helping people – exactly what credit unions have been doing for decades.
Members will know that credit unions are suffering as the returns on our members’ savings (sometimes zero or even negative) has hampered our ability to pay any sort of decent dividend and has brought our own sustainability into question. Simply put, the credit union needs to lend more to our members and our members need to borrow more from their credit union.
So, my wish for 2020? – That all of our members use the credit union for all of their borrowing needs. And to help have those wishes granted, Savvi Credit Union is now offering ‘The Big Loan’ option to all of our members.
With the changes, not only have you a trusted port of call for financing that home improvement, but you are supporting the future of your credit union in the process. The easing of limits on longer-term lending can be a game-changer for us but we all need to play our part. Go on – make a wish and ask about a 5 to 10-year loan and make 2020 a real cause for happiness.
Happy reading and remember to always keep an eye out on our website and social media pages for updates on the latest offers and news at Savvi.
Thank you for your continued support,
Robert Cooper, Savvi CEO