The financial demands of Christmas can often lead to people having to borrow money to get by. In a perfect world, it would be possible to save throughout the year to pay for Christmas, or to have sufficient funds set aside to begin with, but we understand that real life often isn’t like that. Our account holders are ordinary people getting by during a period of low wage growth and rising inflation, and for that reason many of them might be tempted to turn to Christmas payday loans to make ends meet.
The temptation of Christmas payday loans is easy to see. They offer what seems like a quick solution to the problem of overstretched resources, and provide precious breathing space for people who are under a great deal of stress. The downside of Christmas payday loans, however, is that they often come with extremely high interest rates. This means that repayments can be difficult to meet, and borrowers can find themselves having to take out more loans to tide them over. Before they know it, people can find themselves trapped in a spiral of debt and ever higher repayments. Christmas payday loans may seem like a good idea at the time, but they often come at a great long term price.
The alternative to Christmas payday loans is to borrow money from PCCU. We’re a credit union, which means that we lend money in an ethical manner, tailoring our loans and the repayments to meet the financial circumstances of our account holders. We’re run on a not for profit basis, so we don’t have to generate income to pay shareholder dividends or executive bonuses.
The main advantage of this to our account holders is that we offer loans at the lowest possible rate of interest. Unlike many lenders, we’re not interested in making money out of borrowers, but in providing a service. That means that the rate you see advertised will be the rate which we apply to every single loan, and it also means that you don’t have to worry about the small print in your loan agreement. We don’t believe in extra charges or hidden fees and penalties, because we work in a completely transparent manner.
Once you’ve made your application for a loan we’ll deal with it as quickly as possible. As long as you’ve given us all of the information we ask for, we’ll be able to approve a loan and make the payment within 48 hours. Rather than dealing with some faceless business or a distant call centre, you’ll be dealing one to one with a member of our team. While Christmas payday loans seem to offer an easy solution to budgeting, borrowing from PCCU is the stress free and affordable alternative. We’ll enable you to buy the extra treats that help to make Christmas special, without having to spend the start of the next year worrying about how you’re going to pay for it.
We believe our account holders have the right to relax and enjoy Christmas without having to run the risk of applying for Christmas payday loans. We’ll lend you the money you need, with repayments that you can afford, and we’ll make sure it all happens as quickly as possible.