People who cannot access mainstream lending may be at risk of getting credit from pay day lenders charging higher rates of interest or illegal money lenders such as loan sharks or doorstep lenders.

The North Lanarkshire Affordable Credit Group members work together to promote and increase awareness of other options of credit available to the wider public that cannot access mainstream credit.

The North Lanarkshire Affordable Credit Group is made up of a variety of organisations including North Lanarkshire Council, Citizens Advice Bureaux, Credit unions and not for profit organisations to help residents of North Lanarkshire access fair and affordable credit. We also work in partnership with the Scottish Illegal Money Lending unit promoting the Stop Loan Sharks Campaign to ensure that residents know what a loan shark is and how to avoid them.

A credit union allows individuals in the community to save and borrow money at low rates. It is operated on a not-for-profit basis, with surpluses being returned to members.

Other credit sources are available that could help with household goods or personal loans.

You might also have heard about someone in your community who will give you a loan, no questions asked. This is likely to be an illegal lender or loan shark.