JohnLeeds Credit Union (LCU) has launched its largest-ever Christmas loan campaign, aiming to save Leeds residents £20 million in interest charges this festive season.
The not-for-profit lender is encouraging people in Leeds to avoid costly doorstep lenders and unregulated loan sharks, which have recently been found to charge interest rates as high as 466% APR.
This year’s campaign builds on the success of previous Christmas initiatives and follows fresh feedback from members facing greater financial strain amid rising living costs.
To help families manage festive spending responsibly, LCU is offering affordable and flexible loans ranging from £250 to £25,000, available between October and Christmas. Members can tailor repayment plans to suit their circumstances, ensuring access to fair credit when it’s most needed.
James Brown, CEO of Leeds Credit Union, said: “Every year, our members tell us that Christmas brings added financial pressure, and this year those pressures are sharper than ever.
“By turning to Leeds Credit Union for support, our members collectively save around £20 million compared to what they might otherwise pay in high-interest loans. As a not-for-profit organisation, every pound we save or earn goes back into supporting our members and the wider community.
“Affordable credit doesn’t just prevent debt, it provides dignity, stability, and peace of mind at a crucial time of year.”
Applications for the Christmas Loan are open now via the Leeds Credit Union website or at local branches across the region.
Leeds Credit Union serves more than 37,000 members, offering savings accounts, personal loans, and financial education resources — all designed with the community’s best interests at heart. More details here.
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