Your Financial Well-Being

Worried about your Financial well-being, your finances in general? 

Do you know that having credit in today’s world is a practical reality but being in debt is not ok and will cause worry.  We can help you consider what is your safe zone and what can be affordable within your lifestyle.   Talking to a member of our team may make that little difference or could make a huge difference to the way you allocate your money in the future.

DON’T LET A CALL TO US BE LAST ON YOUR LIST – MAKE IT FIRST…

We want to help you “Work” NOT “Worry” – Could changing your financial behaviour be the answer ? 

Check out our Blues & Twos Budget Planner – Budget Planning is a great way to control your finances.

Before reading on, we want you to know that it is part of the Blues and Twos Credit Union’s ethos to educate members in the wise use of their money and to be “Financially Savvy”.  We cannot give advice to members in terms of Bad Debt and financial issues however we can warn you on the dangers of making hasty financial decisions and we ask you to contact us if you are struggling with your monthly repayments.

Feel you need an alternative way to deal with your problems and considering an IVA (Individual Voluntary Arrangement)? STOP -Individual Voluntary Arrangements can be one way that is said to reduce your debt but you must MAKE SURE you are aware of the Supervisory Arrangement fees and any small print.

Victoria Harrison, Chief Executive said: “Over the years we have seen some alarming cases where members (working members like you and me) experience difficult financial choices. In some severe cases these situations  ‘just to make ends meet’ and seem to occur after an unforeseen change in circumstances.  Financial decisions can be compounded by advice that lead to IVA companies who, at the outset of a possible IVA, may charge you Supervisory Fees in the region of £4,000. YES £4,000!  Basically they are adding £4,000 to your debt.  If at a later date your IVA fails, this is added to the amount you have to repay back to your creditors.  You could also be asked to increase your payments when your income improves over the five year term. Make sure you know all your options – The Citizens Advice Bureau (CAB) are great for advice.

With more than 25 years’ experience helping members with savings and loans there have been times when Blues & Twos had to refuse a loan application but there have been many more positive times when your credit union has offered credit to assist a member out of a higher cost credit situation and more good news is that, for some members other options were available. For instance, at Blues & Twos we operate as a not-for-profit lender which means we provide our members with some of the fairest APR rates for loans from £300 – £25,000. These funds come from your colleagues savings so we have to  make sure repayments are affordable. Our Lending Officers will consider all applications for debt consolidation providing there is a commitment from the borrower to help themselves in the longer term by saving alongside the loan repayments”.

Victoria Harrison added: “At Blues and Twos we believe everyone should have access to fair financial products. We encourage you to save directly from your pay via your employer (in most cases we can organise this for you) and we believe this helps our members reduce financial stress and prevent some money linked health issues all of which contribute to your better financial well-being. We all know that every little bit of help – helps. We do not charge set up fees for our loans and we offer you competitive rates, we clearly illustrate the financial benefits that taking a loan from a credit union like ourselves may help you get back on track. We encourage regular saving at the forefront of every membership and it is proven this can remove the longer term need for credit card and overdraft facilities”.

Members can contact the credit union by telephone, email or in person. A private meeting room at the credit union Hutton or County Hall, Preston office is available on request. “An understanding voice on the end of the phone, a meeting with a member of the team who can quickly assess individual financial needs and provide reassurance over repayment terms could be just what is needed”.

Remember – “It is the credit union’s aim to encourage responsible saving and ethical borrowing providing access to affordable low-cost credit. An IVA or other repayment could affect your future credit worthiness”.

It’s sometimes helps to know that our team have helped many members over the years and you will not be the first to ask for their help, they understand the needs of members and will work with you to try & find a solution to reduce your worry.

A private meeting room can be made available on request – Appointments not always necessary to meet with a member of our Credit Committee.

 

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What is a Credit Union?


Blues & Twos Credit Union is a “not-for-profit” financial co-operative, which is owned entirely by its members who all have a common goal to benefit their community, as well as being run by a trained, professional team. Setting up the policies, compliance and strategic governance is the Board of Directors who draw experience from a variety of business/public sector backgrounds.

The Blues & Twos team offer you ethical savings and affordable loans, which means that you can save as you borrow! With a non-profitable credit union, we put the focus on ensuring that you are always provided with the best service, rather than maximising profits. This way, the credit union is run with the end goal of rewarding the members.

Latest News

  • EASTER OPENING TIMES

    Our office will be closed from Good Friday through to Easter Monday. Office will reopen on Tuesday 23rd April 2019 at 10 a.m. Don’t forget to enter our Easter Competition to be entered into a free prize draw to win a £25 ‘One for All’ Voucher.  Closing date Easter Monday

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  • Blues & Twos Society Lottery

    The Winners of the April Blues and Twos Society Lottery draw are now available to view.

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  • Get a cracking start to your Easter Holidays…

    Get a cracking start to your Easter Holidays with a Blues and Twos Loan Borrow £500 for under £50 per month! Simply click here or visit our website www.bluesandtwos.org.uk to apply online for a decision within 24 hours (you may find our loan calculator helpful, which doesn’t impact on your credit score) Here at Blues […]

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  • Easter Competition

    Guess the Number of Eggs to win a £25 ‘One for All’ Voucher. Submit entries by email to enquiries@bluesandtwos.org.uk stating your Membership Number, Amount of Eggs and best contact telephone number. Closing date 22nd April 2019 (Easter Monday)  To be drawn on Friday 26th April 2019

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  • Credit Unions play an important role in today’s UK economy…

    Relevant for the modern age…Watch this 3 minute clip highlighting the important role played by credit unions within the UK economy.  

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  • PRIZE DRAW WINNERS – MARCH 2019

    PRIZE DRAW WINNERS – MARCH 2019  ***FIRST PRIZE – £500*** LANCASHIRE POLICE ***SECOND PRIZE – £150*** JOHN COOKE 3rd Prize £75 ANDREW HOBSON 4th Prize £25             MATTHEW LEIGH 5th Prize £25 LINDA JAMES 6th Prize £25 JASON MOORE 7th Prize £20 RETIRED POLICE 8th Prize £20 MICHELLE PURCELL 9th Prize £20 KATHRYN CUSSANS 10th Prize £20 ALISON SMALLEY 11th Prize £20 MICHAEL PINCKARD 12th Prize […]

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  • Website disruption solved..

    We are sorry for any inconvenience caused over the weekend when the website went down.  This has been investigated by website providers and now working normally.

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  • Credit Union receives letter of thanks…

    Blues and Twos received a letter of thanks from the Salvation Army for December Christmas collection.  The Salvation Army gave an extremely big thanks for our help in Preston.  It is understood they collected enough to help 291 families and a total of 908 food bags were given out.  Well done to all who help at the Salvation Army!

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  • Special retirement wishes…

    Special Retirement wishes were given to Marion Bolton on her last day with the Blues and Twos.  The Chair, Mike Beeston, Vicky Harrison (CEO) and the team met for breakfast and presented Marion with flowers, bubbly and thanks for her hard work and team spirit over the last three years.  Marion said she is planning […]

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  • A big thank you to members…

    Our third year collecting non-perishable food items and toiletries went well and your donations have been  delivered to the Salvation Army.  Thank you to all members who offered their support to this good cause.  

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  • Car Finance – No final lump sum or balloon payment

    Option 1 – Fixed APR CAR LOAN Finance amount – £10,000 Monthly repayments – £183.67 Total repayments – £11,020.15 Term – 60 Months APR – 4% Fixed Optional lump sum – Nil     Option 2 – Homeowner Fixed APR CAR LOAN Finance amount – £15,000 Monthly repayments – £275.51 Total repayments – £16,530.19 The […]

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  • Work not Worry with a Blues and Twos account

    The Association of British Credit Unions, known as ABCUL, have launched a campaign just yesterday that focuses on raising awareness of the benefits for employers to partner with credit unions in offering their staff payroll membership. If you are an employee, you can also suggest your employer partner with a credit union. Payroll membership is […]

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  • Fairbanking 5 Stars Award goes to Blues & Twos…

    The Fairbanking Mark was awarded by the Fairbanking Foundation following a rigorous assessment which includes independent research involving borrowing members of the credit union. To receive the Fairbanking Mark, this research had to confirm that members have changed their financial behaviour for the better by having the product.  Following the 5 stars Award, on behalf […]

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