Affordable Loans, an initiative Leeds Credit Union is proud to be a founding member of, won the ‘Fair Lender’ award at the Credit Awards in London – Credit Strategy’s flagship event of the year.The ‘Fair Lender’ award was part of the ‘Conduct & Culture’ category sponsored by Lowell and recognises Affordable Loans’ ability to level the playing field when it comes to obtaining credit. Many people who cannot apply to mainstream financial sources are often left with no choice but to turn to unethical, high-cost lenders and find themselves paying the “poverty premium”.Affordable Loans is formed of a group of Credit Unions and CDFIs, including Leeds Credit Union, who help their customers to break the cycle of unmanageable debt. The other community lenders involved are Scotwest Credit Union, Five Lamps and Manchester Credit Union. Responsible Finance, one of the supporters of Affordable Loans, also congratulated the partnership on the win, tweeting:Congratulations to @loan_affordable on winning the Fair Lender Award at the #creditawards against stiff competition!For a full list of the winners visit here
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