Continuing To Help Members

So much has happened in the last 12 weeks … it’s hard to believe that today is the end of our 7th week working remotely! Furloughing, social distancing, isolation, childcare, home schooling … coronavirus continues to have a huge impact on everyone.

One thing that hasn’t changed is our commitment to provide outstanding customer services. As key workers, the majority of Penny Post members are continuing their essential work, and we’re proud to support members however we can –

  • ‘Opening hours’ remain unchanged & full services available online or by telephone.
  • Post is diverted and takes a little longer, so it’s best to use Nivo, our secure messaging App, or our online services whenever possible.
  • Don’t miss our new ‘How to’ guides designed to help members make the most of our online services – we’ve already had some great feedback! Remember, the Customer Services team are available on Nivo or by telephone to answer your questions.
  • For those members who aren’t able to apply for loans online, we’ve introduced a new telephone loan application.
  • Withdrawal restrictions removed from the Plus and Christmas savings accounts – you can withdraw funds from these accounts online or by telephone if required.

Spring is usually one of our busiest periods, helping members with loans for holidays, special events and so on. Whilst we can only dream about such occasions at present, we are helping members in other ways during this pandemic ….

  • We’ve already shared the story of a member stuck in Asia and had a loan to help cover medical and other expenses until he’s able to return home.
  • One member applied for a loan to repair his car so he could take his wife to work, as she did not want to use public transport & another member has had a loan to purchase a car instead of car sharing.
  • We’ve helped another member with a loan for living expenses & flights for a friend stuck in Romania with a small child, having gone to visit family.

Unfortunately, coronavirus has negatively affected income for some members and we’re working hard to help in whatever ways we can. From combining loans to reduce weekly payments, loans to consolidate credit cards and other borrowing, using savings to cover repayments or arranging short payment holidays for members self-isolating, Penny Post is doing everything it can to support members through these extraordinary times.

Stay-at-home loans

As lockdown is eased, and with DIY centres, building merchants & garden centres slowly re-opening, other members are taking advantage with stay-at-home loans to help with home improvements, garden projects and even a new kitchen! There’s a Bank Holiday (yes another) ahead, so if you’re planning a project over the weekend, now’s the time to apply for a Penny Post loan.

With the possibility of car dealerships re-opening from the 1st June, now might be the time to consider upgrading the car. A Penny Post loan could help you secure a great deal!

And … for those planning ahead, we’ve help members in recent weeks with loans for holidays next year and even a 2021 wedding!

Sadly, we can’t help everyone. As an ethical lender it’s important we only lend what a member can afford. We are lending money that is members’ savings, and it would be irresponsible to lend to those who are unable to repay. We are however taking a little extra time on loan decisions and asking for further supporting documents, where necessary, to make the right decision and help as many members as possible.

Stay safe everyone, and remember … we’re still here to help.