CoronaVirus Covid-19
We appreciate you might be worried about the impact of Coronavirus on you and your finances during this pandemic. Supporting our members and our employees is our absolute priority and we’re working hard to make sure we’re here to support you however the situation develops. Our team is on hand to help with your saving and borrowing enquiries
To reassure you the Blues and Twos team are trying to conduct business as usual keeping phone lines open 11am – 3pm and with some of our team working remotely we can all answer email enquiries and your online requests submitted via the members area on our website.
We wish to ensure the support we give you is in your best interests, and we are urging members who are still in receipt of full pay and/or benefits to try and continue with payments as no-one knows what will happen in the coming weeks. We are pleased to report a positive increase in monthly contributions as some members increase their regular Save amount for their possible emergencies later in the year.
If you are concerned about your finances and credit union loan repayment because you are off work due to sickness, self-employed and no income temporarily or you been Furloughed and will have a period of reduced income, we are here to listen and to try and help you through this difficult time. A member of our Credit Committee will contact you to discuss the options available. You may be offered a reduction in your monthly payment. You will be advised that a reduction in repayments can alleviate your short-term situation but overall, it will increase the loan interest and repayment term. A shorter-term solution may be better for you with a ‘catch-up’ plan over a 3-6-month period.
You will be asked to confirm your current position and the following information will be requested: –
- Your revised monthly income (Your next payslip will be required to evidence this reduction)
- Your regularly monthly expenditure (including details of other credit outstanding and whether you are up to date with payments)
- The monthly amount you feel you can afford for a temporary period
You can email your financial concerns or queries to enquiries@bluesandtwos.org.uk
You may find these information links useful: –
