How to protect yourself from loan sharks

A loan shark – or illegal money lender - is someone who lends money illegally without proper authorisation from the Financial Conduct Authority (FCA).

That means if you borrow from them, they don’t have to follow the rules – they can decide how much you pay back and when.

These criminals are not always easy to spot - they can be a friend, a fellow service member, even a senior officer.

Whoever they are, they will usually appear as a friendly face, offering you a favour. They may tell you that what they are offering is nothing more than peer-to-peer lending and their offer may seem hard to resist.

Serve and Protect Credit Union - March update

📢 Free financial webinars this March from Serve and Protect - don't miss out!

🌍 Eco-Friendly Ways to Save Money

📝 Budgeting 101: Take Control of Your Money

🚀 Credit Score 101: Boost Your Score

🔍 Before You Borrow: Things to Know

🔗 Register here

Mindfulness can be a simple and effective tool to live in the moment and reduce financial stress 😊

Discover how to navigate your financial journey with clarity in Episode 10 of the Smile and Save Podcast.

🔗 Watch here

Free Financial Webinars this Feb

 📢 Free financial webinars this February from Serve and Protect - don't miss out!

 🌍 Eco-Friendly Ways to Save Money

🚀 Credit Score 101: Boost Your Score

🔍 Before You Borrow: Things to Know

 

🔗 Register here

Fixed Saver launch!

Secure a guaranteed 4.25% AER return over the next 12 months with the latest Fixed Saver account from Serve and Protect Credit Union 🔏

 

🔗 Learn more

Latest podcast episode 🎧

Mindfulness can be a simple and effective tool to live in the moment and reduce financial stress 😊

 

Latest podcast episode 🎧

Discover how to navigate your financial journey with clarity in Episode 10 of the Smile and Save Podcast.

 

🔗 Watch here

🔗 Learn more

Universal Credit for armed forces personnel posted overseas

Serving personnel and families are entitled to claim Universal Credit, regardless of their location. This means families stationed overseas can submit claims in the same way as those in the UK.

Universal Credit for armed forces personnel posted overseas - GOV.UK

Military Spousal Founders Programme

Are you part of the armed forces community with plans to become a business founder? Our Military Spousal Founders Programme is designed just for you.

We've partnered with Eagle Labs Academy to run this specially designed programme for military spouses who want to start and grow a business. Continuing our ongoing commitment to the armed forces covenant, the programme aims to assist spousal business owners establish a foundation to be successful in starting their own business.

Eagle Labs Academy is a digital learning platform that helps founders start and scale their business at their own pace.

This Money Helper (Money & Pensions Service) ​​guide

This Money Helper (Money & Pensions Service) ​​guide is for you if you need access to credit but you can’t use a mainstream lender and you don’t want to use a payday loan or other forms of high-cost credit.

When you read it, you’ll know:

• how credit unions work and how they can help you
• how to join a credit union
• what other sources of fair and affordable credit might be available to you.​
• To view this guide please click HERE

More information can be found on the Money Helper website at https://www.moneyhelper.org.uk/en/everyday-money/credit

For the Service community, there are three MOD-endorsed credit unions - see https://www.joiningforcescu.co.uk/​

Military Mortgage Advice Webinars: November to Jan

 

Military Mortgage Advice Webinars: November to Jan

 

Link for website 

Are you eligible for Pension Credit?

It is estimated that up to 880,000 households are missing out on Pension Credit, and it is worth, on average, £3,900 per year, providing additional benefits such as help with Council Tax and Housing Benefit and a free TV licence for those over 75.

In addition to Pension Credit, those who qualify could also receive Winter Fuel Payment and other support like help with housing costs, help with Council Tax and a free TV licence for those aged 75 and over.

Thanks to the Pension Credit backdating rules, it is possible to apply for Pension Credit and have the claim backdated by up to 3 months, (ticking the backdating box on the claim form). 

This means that the latest date to apply and still qualify for Winter Fuel Payment is 21st December 2024.

To note, Pension Credit can also provide extra support for heating costs such as The Warm Home Discount Scheme and Cold Weather Payments​.

Checking entitlement is easy with this on-line calculator: Pension Credit calculator - GOV.UK (www.gov.uk)

Understanding Wills & Lasting Power of Attorney's

Want to gain a better understanding of setting up a Will and LPA? 

In this free webinar by the team at Serve and Protect Credit Union, we'll help you understand the importance of having a will in place which is vital to ensure that your money, property and possessions are distributed exactly how you wish after your death and that your loved ones are properly cared for. 

Also looking at setting up a Lasting Power of Attorney which allows you to appoint people you trust to make decisions about financial affairs and health and care, if you are unable to due to injury, accident or illness

We look forward to you joining us. Book your place today! 👇 completely free

Webinars - Serve & Protect (serveandprotectcu.co.uk

Serve & Protect Credit Union: free Sept Webinars and their latest Podcast

 📢 Free financial webinars this September from Serve and Protect - don't miss out!

🛒 Managing the Cost of Living

👤 Domestic Violence - The Financial Impact

✍️ Budgeting & Spending

📝 Understanding Wills and LPAs

🚀 Boost Your Credit Score

🔍 What Lenders Look For

🔗 Register: 

Episode 5 of the Smile and Save Podcast is here, brought to you by Serve and Protect’s Jon who shares learnings from his almost 37 years’ experience in the RAF. Discover some tips and things to think about when transitioning to civilian life 🎧 🔗 Watch here

Armed Forces Pension Awareness Week – Understand your pension, sessions, 9th to 13th Sept

 

Invest in your future – understand your pension.

Join Armed Forces Pension Awareness Week (AFPAW) sessions from 9 to 13 September.

New MOD Booklet: Benefits and Support for Reserve Families

Announcing the new booklet, Alistair Carns MP MC OBE, Defence Minister for Veterans and People, said: 

“Our Reserve Forces are an integral and valued part of the Armed Forces Community. Their hard work and dedication is essential to national security and enables us to be operationally effective no matter the situation. 

“It is essential that we support our people and their families as they navigate the challenges of service life. Whether it’s support with childcare, medical needs or financial advice– there’s a wide range of benefits and support in place to help our Reservists and their families. 

“Today, I’m delighted to share our new MOD booklet for the Reserve community, which signposts the help available, and how to access it. This will allow more of our community to live in a way that best suits their needs.”

Read the booklet here