Star says city gives ‘real hope’ to campaign

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Then a work colleague persuaded Stephen to contact Leeds Credit Union – and it turned his life around.

“I couldn’t believe the relief I felt on that first visit to the credit union. To meet people who cared, who listened to me and didn’t judge,” says Stephen.

“I realised all they wanted to do was help me to find a way out of the mess. It’s taken a few years but I’m now back on my feet and I even have a financial safety net with some savings.

“Everyone should be able to access affordable and fair finances and never have to go through what I did.”

Mum Alison was also in debt to high-cost lenders and had to turn to rent-to-own shops to buy household basics. She says: “The amount people have to pay to these firms is shocking and puts those already struggling in a very vulnerable position.

“People don’t realise the consequences of taking out the wrong deals until it’s too late. They don’t know there are more affordable options.

“Getting on top of my money worries by using the credit union was brilliant. It is exactly what everyone should be able to do.

“People with the least money being charged the most is just wrong. I’ve learnt good money management and now have a rainy day fund – that feels good.”

These are just two examples of the success stories from the 36,000 members of the Leeds Credit Union, which has saved the community £47million in interest in the last 10 years – money that stays in the community rather than lining ruthless lenders’ pockets. Michael was so impressed: “It was really powerful to hear the stories that the Leeds Credit Union customers shared with me,” he said. “To know that after getting into some really frightening problems with debt and feeling like there was no way out the Credit Union was able to help them turn things around.

“They all talked about how friendly the staff were, how they felt listened to and how much they valued their relationship with the people who worked there. “To go from fearing the knock at your door to having the confidence of knowing you’ve been able to start some savings can be a life-changing journey – and places like Leeds Credit Union are helping to make that happen.”

But the credit union is just one part of the success story of

Leeds. The city has a proper joined-up approach to tackling poverty and ensuring the most vulnerable don’t end up in the hands of high-cost credit firms.

Led by Leeds City Council, it has brought all the organisations offering the services, financial products and help people need together – including council departments, charities, housing associations and financial firms – and created 17 One Stop Centres and Community Hubs across the city. There is also an online Money Information Centre with contacts and guidance.

People can simply drop in to centres and get help with everything from dealing with basic bill issues to finding affordable credit, access to free computer terminals and the internet and help finding work. The interaction between all the various organisations means there are some clever and unique partnerships. Leeds Credit Union, for example, created Headrow Money Line, a community development financial institution that offers responsible, affordable loans to low-income and other disadvantaged people in the community.

Headrow gives people more choice when they need it, a vital first step to creating enough access to fair credit for everyone and something that needs to be replicated nationwide.

Leeds isn’t resting on its laurels either as it continues to keep improving and expanding on what it has achieved so far.

It has recognised that problem gambling is on the rise, with tens of IMPRESSED Michael in Leeds

Getting on top of my worries by using credit union was brilliant