Local Money for Local Frontliners – Emily’s Story

We all have our own goals, big or small, and sometimes what we really need is a bit of support to reach them.

Emily’s journey is a perfect example of this. With South Manchester Credit Union by her side, she managed to navigate through life’s challenges, from moving into her first flat as a mother and student nurse, to eventually owning her car and advancing in her nursing career. This story shows just how critical it is to have someone in your corner, ready to help you move forward and grow.

Student nursing life

At 23 years old, Emily was a student nurse and looking to move into her first property with her young son. Moving into a property of her own would be a big step in itself, so doing it as a young mother and continuing to work towards being a fully qualified nurse was admirable. Way to go Emily!

Emily was able to secure a flat through Southway Housing – a promising start. Through our unique partnership with Southway, Emily discovered South Manchester Credit Union and was able to borrow £300 with our Southway Solutions Loan for some initial home improvements.

This was the building block that Emily needed to keep saving money whilst she paid back her first loan.

Car finance problems

Fast forward 7 years into Emily’s membership with South Manchester Credit Union – Emily continued to save with us and turned to us a few times when life’s hiccups got in the way. Even when purchasing her own house last year, Emily came to us just as she did in 2016 for those new home improvements.

Having now fully qualified as a nurse and working with many housebound patients across South Manchester, travel by car became integral to her job and family life. Emily got herself a reliable car that she loved using Personal Contract Purchase (PCP) car finance, something that many people use to get a car.

Emily knew the cycle of PCP finance and sticking with her car payment plan wasn’t going to work long-term. She wanted to keep her car without continuing to re-finance or making one big payment to own it outright.

With 1 year of monthly payments left on her PCP finance, Emily was weighing up her options. After some research, she wanted to buy herself out of her PCP finance so she could own her reliable car.

In her mind, there was only one place to go!

Breaking the PCP cycle with a Car Loan

Emily came straight to us on our mobile messaging app.

She liked that our loan assessments are based on our members’ personal circumstances. Another benefit was that our processes are simple and straightforward, plus our interest rates were as good as her other options.

“The loans have good interest rates and I love that you can save as you pay back your loan”

We learnt about her circumstances and how important this loan would be to sustaining her career and family life. Then we approved a loan for Emily so she could own her car and continue to achieve her goals – progress herself on the district nursing team and build a good life for her family.

Achieving her dreams with South Manchester Credit Union’s help

Emily now owns a car she loves, which has enabled her to continue working on the district nursing team.

The fact that Emily’s car is now actually hers to keep is huge for her and gives her peace of mind. She likes that her monthly repayments to us are flexible so she doesn’t have to worry about losing her car, and she can even make early repayments with no fees at all.

“I have always found the service amazing”

Emily now feels more financially secure than ever before, as she still saves with us every week. She has also been putting money into her Christmas Club savings account with South Manchester Credit Union for a few years now.

“The Christmas Club is great”

This helps her to tuck some money away throughout the year to give her a financial boost at Christmas.

How we support your goals, big or small

We understand everyone has dreams, from making your new home feel more like yours with a few updates, to buying your own car to make work and family life easier. South Manchester Credit Union is here for you every step of the way.

Our community and your local credit union is right here to support your aspirations.

Join us here at South Manchester Credit Union today and take the first step to achieving your goals. For that helping hand in your journey or a secure spot to save money and plan ahead, empower your financial future with us.

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