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Retail credit union launches

The Retail Trust’s credit union for cash-strapped employees officially launched this week, almost three years after the plans were announced.

Retail Trust unveiled its ambition to set up Retailcure in June 2014. The credit union will provide loans of between £500 and £5,000 to anyone working in retail at interest rates below those offered by payday lenders.

Boux Avenue founder Theo Paphitis, John Lewis and Schuh are among the retailers that have signed up to support it.

 

 

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