According to Age Uk older people have struggled the most financially as accessing cash during the pandemic has been difficult mainly due to restrictions on face-to-face banking as more and more services are turning to card only services it’s looking at an uphill struggle for those that still rely on having cash in their purse.
Managing problem debt in later life can have a devasting impact on their life and according to a report from Age UK more should be done.
Low returns from savings, decreasing annuity rates and rising prices for energy and other basic costs are adding to the financial pressures on many in older age and with less high-street banks borrowing to those in retirement could potentially leave those in retirement at risk from being financial included.
Once people have retired and have a regular pension it’s a time when many choose to make improvements to their home as they usually spend more time at home for hobbies etc and so Wave Community Bank make it possible for those in retirement to access ethical and affordable loans to improve their homes such as new gardens, replacement doors and windows, loft insulation and other environmental products that help keep the heating bills down and make houses and gardens easier to maintain.
As retired and older people are turning to credit unions as accessing credit can be difficult in high street banks they also have the added advantage of paying into a new savings account which can be accessed when the loan is paid off in full which they can use to either treat themselves or their grand-children.
If you are retired and have a regular pension and looking to make some improvements to your home then let Wave Community Bank help you do this ethically and affordably with our Ethical Saver Loans.
