Anglicare no-interest loans scheme receives welcome boost

NSW Minister for Fair Trading Matthew Mason-Cox presents Anglicare's Wendy Hunter with a funding boost for the service's no-interest loan scheme.

NSW Minister for Fair Trading Matthew Mason-Cox presents Anglicare's Wendy Hunter with a funding boost for the service's no-interest loan scheme.

AN ANGLICARE service offering no-interest, no-fee loans to struggling families and residents on the Far South Coast has gained a funding boost to continue its important work.

NSW Minister of Fair Trading Matthew Mason-Cox visited the Anglicare NSW South Coast Regional Alliance Centre in Bega on Tuesday afternoon to present cheques worth more than $33,000 to support the service.

“We believe all people should have access to essential household or medical goods and services, including washing machines, refrigerators, computers for children and other essential items to support family stability and success,” Anglicare NILS coordinator for Bega Valley and Eurobodalla Wendy Hunter said.

“The support of the NSW Government has been vital in providing this service to many people who would otherwise be enduring an endless spiral of debt.”

The basic philosophy of the No Interest Loan Scheme (NILS) is to offer low income consumers with access to credit, without the burden of high interest charges.

The application process also provides an opportunity to increase the financial literacy and knowledge of consumers in the community.

Between January 2014 and June 2014, the Bega Valley and Eurobodalla Shire NILS program has issued 59 loans to low income people and families.

“The program is helping many to survive tough economic times,” Ms Hunter said.

Mr Mason-Cox said the NSW Government was committed to supporting services such as the Anglicare Regional Alliance.

“Anglicare Regional Alliance is working closely with vulnerable families on low incomes to assist them in purchasing essential household goods and covering medical expenses,” he said.

“Since coming to the Fair Trading portfolio, I have learnt about the real difference NILS has made to people’s lives through community services such as these.

“NILS is a practical hand up rather than a hand out with loans being repaid in more than 95 per cent of cases.

“This ensures funds are put back into the scheme to assist others and supports loan recipients to establish credit ratings and get finance in the future.

“I’m pleased to announce funding of $19,898.36 for the Anglicare Regional Alliance Centre in the Bega Valley Shire and a further $13,265 for the Eurobodalla Shire,” he said.

For more information on the scheme contact 1800 644 556 or visit www.nilsnsw.org.au.

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