Autumn news

Your Stories?

Castle Community Bank is dedicated to helping members manage the cost of living. We'd love to share your story about how we've helped you to get out of debt and/or start saving.?

Matt's story ?

“Castle Community Bank helped me during a very stressful time in my life, when other high street lenders turned me away.” ?

Matt first found Castle Community Bank (CCB) when looking for a debt consolidation loan using a comparison site, he says:? ?

“After the breakup of my marriage, I was struggling to make ends meet due to the huge rise in the UK cost of living, together with making maintenance payments.? ? Within a few years I found myself with unmanageable credit card debts, but quickly discovered I was not eligible for a loan from other lenders, despite having a regular income. And the pandemic only added to my financial stresses.? ?

Practically, I was at the point of taking on any odd jobs I could, to try and cover payments as little as ￡12 because most of my income was paid out within days of pay day.?Those smaller repayments feel just as big as the larger ones when you don’t have the money to meet them.? ?

Thinking about debt not only distracted me from my work, time off and rest but it reduced the quality of my sleep. It seeped into my temperament, making me less patient, thoughtful and kind.? ?

CCB helped me to consolidate my debt into one manageable monthly payment and the loan has been paid in full. Now I can get on with my life. ?

CCB offered me a more personal service than I’ve experienced before, they listened to me and understood why I needed help to get back on track with my finances.? ?

I’m grateful to CCB for helping me get my debt under control, and am still a member with plans for a savings account, I’m proud to be a part of a community bank that’s really making a difference.”

If you'd like to share how Castle Community Bank supported you, get in touch and help us spread the word about?how?community banking is the future of affordable finance.?

Christmas Saver

Castle Community Bank offers members an exclusive?Christmas Saver account to help with the cost of the festive season.Whether you need savings for gifts, food,?travel or tinsel,?having a little extra room in your budget to look forward to come December can help reduce the seasonal stress. If you'd like more information get in touch with our team.?

Protect Yourself

At Castle Community Bank we are unfortunately still seeing a number of members falling victim to investment scams which is leaving them out of pocket, in debt and in many cases with their credit rating in tatters which could have a detrimental impact on them for years to come.

What can you do??

If you?see an advert offering the opportunity to make money easily –?STOP and think!?

• Is the Financial Adviser being promoted genuine??
• Would a genuine Financial Adviser use social media channels to promote their business??
• Can you validate the money-making scheme independently??
• Validate the Financial Advisers credentials on the Financial Conduct Authority website (https://register.fca.org.uk/s/)
• Make sure any addresses quoted are genuine from a recognised source e.g. Royal Mail address finder?
• Check the address given on Google Maps and make sure it is a professional office and not a domestic house?
• Seek independent financial advice from a trusted source e.g. personal recommendation or your regular bank account provider?
• Make sure you ask about fees and charges before agreeing to any transactions.

If someone tells you to apply for a loan to invest the money to make a quick return –?STOP and think!?

Most lenders do not lend for investment purposes, and this includes Castle Community Bank. If you are told to put a different purpose on the application form, e.g. home improvements or debt consolidation, and you do, remember you too are committing fraud by not providing truthful information and are complicit in enabling the scammers.??

If someone tells you to download an app onto your smartphone or tablet -?STOP and think!?

The most common application that we see being used in scam cases is called ‘Anydesk’. This app can be excellent when used correctly by people you know and trust, as it can help you solve IT related issues remotely and quickly. But in the wrong hands it can have devastating consequences. If a scammer asks you to download the app, they have full control of your device, can access all your personal information, and as we have seen, many scammers have applied for loans then transferred the loan funds to their own bank account leaving our member with a loan which they are legally liable for and must repay. If someone you have been engaging online or via the telephone that you don’t personally know, asks you to download ‘Anydesk’ don’t do it.?

Have you received a large payment into your bank account that you weren’t expecting??STOP and think!?

Financial institutions don’t just pay large sums of money into our bank accounts without reason. If you see a large payment coming into your account you don’t know about or fully understand, contact your bank’s fraud team immediately and query the transaction. Ask them to stop any transactions on your account until you have checked where this money has come from. It may stop you ending up liable for a loan that you didn’t know you had applied for.?

Remember, if in any doubt speak to someone be it your credit union, bank, building society or National Fraud Action Line who will help you, and may prevent you from losing thousands of pounds.?If a friend or family member mentions they have been approached about any of the above, warn them and share this information with them.?

Further information: Citizens Advice Bureau (England & Wales) (Scotland)?

Money Tools?

Have you used our Money Tools yet??

We are passionate about financial education and financial inclusion and have a?wide range of information and tools available to help you better manage your money

• Budget Planner
• Debt management
• Snoop app
• InBest Benefits Calculator

Business Growth Finalists

We are delighted to have been shortlisted in the Business Growth category for the Scottish Financial Enterprise awards!

Well done to the team that got us this far, we're looking forward to the winner announcements?later this month.?