0:00:02 > 0:00:03Every day, all over the country,
0:00:03 > 0:00:06millions of people are struggling to find the cash they need
0:00:06 > 0:00:09to make ends meet or to realise their dreams.
0:00:09 > 0:00:1140, 60, 80, 100.
0:00:11 > 0:00:14- Withdraw £500.- 50, 65.
0:00:14 > 0:00:16- Thank you, Lisa.- OK?
0:00:16 > 0:00:20Many struggle to qualify for high-street borrowing,
0:00:20 > 0:00:23making them vulnerable to illegal loan sharks.
0:00:23 > 0:00:28That first £100 loan leads to another, leads to another.
0:00:28 > 0:00:30But there are a growing number of
0:00:30 > 0:00:32community banks or credit unions
0:00:32 > 0:00:34that are offering a helping hand,
0:00:34 > 0:00:37whilst at the same time supporting the local area.
0:00:38 > 0:00:41We are looking to offer you a loan.
0:00:41 > 0:00:4420, 40, 60, 70, 80.
0:00:44 > 0:00:48We've had our ups and downs, like any other family would in a family business.
0:00:48 > 0:00:50They gave me the option of what I could afford.
0:00:50 > 0:00:53I could actually live again and actually save again.
0:00:53 > 0:00:55From household emergencies,
0:00:55 > 0:00:58to kick starting a new life or business...
0:00:58 > 0:00:59Organic veg boxes!
0:00:59 > 0:01:02I am a bit nervous, but I'm still excited.
0:01:02 > 0:01:04It's like I'm getting married, it's crazy!
0:01:04 > 0:01:07..we're following some of these life-changing stories.
0:01:07 > 0:01:11It basically meant that something that I never thought
0:01:11 > 0:01:14I'd ever do in my life was actually going to happen.
0:01:14 > 0:01:15Without that help,
0:01:15 > 0:01:19the transformation to my life would have been impossible.
0:01:19 > 0:01:21So it's a win-win situation, really.
0:01:26 > 0:01:33Today, a loan helps two brothers get their aviation furniture business off the ground.
0:01:33 > 0:01:35Knowing that the person next to you isn't going to
0:01:35 > 0:01:39pull the rug out from underneath your feet is worth a lot.
0:01:39 > 0:01:41You'd better not do that.
0:01:41 > 0:01:44How a mother's death put her young son into debt.
0:01:45 > 0:01:48And I didn't pay the electricity bill
0:01:48 > 0:01:51cos I didn't know how to do it, so we got cut off.
0:01:51 > 0:01:53And they didn't really care that Mum had died,
0:01:53 > 0:01:55they just wanted their money.
0:01:55 > 0:02:00And a loan for education helps a mum learn an important life lesson.
0:02:00 > 0:02:03It was one of the best feelings ever
0:02:03 > 0:02:06because I knew I could fund myself.
0:02:09 > 0:02:12Consumer credit is on the rise.
0:02:12 > 0:02:16With more than 7 million of us in the UK turning to cards,
0:02:16 > 0:02:20overdrafts and payday loans to buy everyday essentials.
0:02:21 > 0:02:25I ran up debts of about £15,000.
0:02:25 > 0:02:28It was very easy to run up that kind of money.
0:02:28 > 0:02:32It's estimated that a fifth of the population don't have enough money
0:02:32 > 0:02:35to cover emergency costs and, as a result,
0:02:35 > 0:02:39many families are at serious risk of falling into problem debt.
0:02:40 > 0:02:45I didn't read between the lines because you may be borrowing £100,
0:02:45 > 0:02:47but you're going to be paying back 300,
0:02:47 > 0:02:50so it just doubles and triples in price,
0:02:50 > 0:02:52and that's when things started to get hairy.
0:02:54 > 0:02:56But there are other options.
0:02:56 > 0:02:59Helen speaking. What's your membership number?
0:02:59 > 0:03:02- Can I please apply for a loan? - Sure.
0:03:02 > 0:03:05Credit unions are not-for-profit lenders
0:03:05 > 0:03:07that offer ethical financial services
0:03:07 > 0:03:10to members of their local community.
0:03:11 > 0:03:1350, 80.
0:03:13 > 0:03:16- Thank you.- All right?- Thank you.
0:03:19 > 0:03:23For years, London Capital credit union has been providing
0:03:23 > 0:03:28ethical banking services to the local community in North London.
0:03:29 > 0:03:32London Capital credit union, this is Trema speaking.
0:03:32 > 0:03:34How can I help you?
0:03:34 > 0:03:3956-year-old single mum Mayglen has come to the credit union today
0:03:39 > 0:03:43for a loan to cover a whole list of things.
0:03:43 > 0:03:45Well, I've come to borrow some money.
0:03:45 > 0:03:47I've asked for £2,000.
0:03:47 > 0:03:49I need to have some work done to my bathroom floor,
0:03:49 > 0:03:53to get some money to do some dental work,
0:03:53 > 0:03:58and to send my son away for a couple of weeks during the holidays.
0:03:59 > 0:04:02While Mayglen has good reasons for needing a loan,
0:04:02 > 0:04:06she knows that's no guarantee of a successful outcome.
0:04:06 > 0:04:10I'm hoping it'll be a positive decision, but I am a little bit nervous.
0:04:10 > 0:04:14As always, I did hesitate before coming.
0:04:14 > 0:04:19You know, because the idea of being turned away is quite sort of...
0:04:19 > 0:04:23not worrying, but you know, it would be a bit disappointing.
0:04:25 > 0:04:29Assessing Mayglen's application is a familiar face,
0:04:29 > 0:04:31in advisor Patricia.
0:04:31 > 0:04:33Would you like to come over, please, Mayglen?
0:04:36 > 0:04:38- Take a seat.- Hello, Patricia.
0:04:38 > 0:04:41Lovely to see you after all this time. I haven't seen you for ages.
0:04:41 > 0:04:45- Likewise. How are you? - I'm fine, thank you.- Good. Great.
0:04:45 > 0:04:47The dentist is all mine.
0:04:47 > 0:04:51The bathroom... I had a bit of a surprise when I decided to take up
0:04:51 > 0:04:54the cover, and under the sink the floor was all rotted.
0:04:54 > 0:04:58So I need to get that fixed, ASAP.
0:04:58 > 0:05:01And my son's had quite a difficult year.
0:05:01 > 0:05:04You know, one of his best friends died...best friends died.
0:05:06 > 0:05:08He's just finished school.
0:05:08 > 0:05:11He'll be going on to music college in September.
0:05:11 > 0:05:14And I wanted him to have a sort of pleasant enough summer break
0:05:14 > 0:05:16before he starts in September.
0:05:17 > 0:05:20Just want to... Yeah, so that's your loan application.
0:05:21 > 0:05:23You've given us your original bank statement...
0:05:23 > 0:05:26- Yeah.- ..and original wage slip.
0:05:26 > 0:05:30I just want to make sure there's nothing else in there that you shouldn't get.
0:05:31 > 0:05:35The credit union has recently put in place new rules for their loans.
0:05:37 > 0:05:42And you've been with us for a little while but there's a new policy now for all members.
0:05:42 > 0:05:45You know, if you apply for a loan now,
0:05:45 > 0:05:47it'll be six months before you can top up.
0:05:47 > 0:05:50- Of course.- And the reason that is, is to give you time to reduce
0:05:50 > 0:05:53your loan balance and also look at your finances.
0:05:53 > 0:05:56You may have stuff you want to get rid of in six months' time.
0:05:56 > 0:05:59By then, your loan balance will be a little bit lower.
0:05:59 > 0:06:01- That's a reasonable... - Yeah.- ..reasonable time.- Yeah.
0:06:01 > 0:06:03- That's a good idea. - Yeah, rather than...
0:06:03 > 0:06:06You know, some members are in every month and we don't want that.
0:06:06 > 0:06:08We want people to have a look at their finances.
0:06:08 > 0:06:10Do you really need the money?
0:06:10 > 0:06:12- Absolutely.- And if so, you know, what is it for?
0:06:12 > 0:06:15And, you know, you don't want to keep coming in and having loans
0:06:15 > 0:06:18and then when you really, really need it,
0:06:18 > 0:06:21we can't offer it to you because you've reached your limit.
0:06:22 > 0:06:26Credit unions are all about responsible lending, so Patricia
0:06:26 > 0:06:30will need to do some checks to make sure Mayglen can afford
0:06:30 > 0:06:33the repayments before approving her loan.
0:06:38 > 0:06:40Every year, traditional banks reject
0:06:40 > 0:06:43around £4 billion of loan applications
0:06:43 > 0:06:46from people wanting to start new businesses.
0:06:46 > 0:06:50Only 3% of those rejected look elsewhere for funding.
0:06:53 > 0:06:55They basically all said no to me.
0:06:55 > 0:06:59"Thanks for applying but we're not going to give you a penny."
0:06:59 > 0:07:03There are a number of not-for-profit lenders offering government-backed start-up loans...
0:07:03 > 0:07:06to people who have a great business idea,
0:07:06 > 0:07:09but would struggle to get finance on the high street.
0:07:16 > 0:07:17Come on!
0:07:17 > 0:07:21When brothers Harry and Ben from Bath borrowed £9,500
0:07:21 > 0:07:25from the Fredericks Foundation to start their furniture business,
0:07:25 > 0:07:27the sky was the limit.
0:07:28 > 0:07:30We saw the concept being executed in America,
0:07:30 > 0:07:33creating kind of furniture from aircraft parts.
0:07:33 > 0:07:35And we did a bit of research and found that there was no-one
0:07:35 > 0:07:36really in the UK doing it,
0:07:36 > 0:07:39and that was kind of the reasons behind why we started.
0:07:41 > 0:07:46The pair create bespoke fixtures and fittings using bits of scrapped aeroplanes.
0:07:46 > 0:07:48They started four years ago
0:07:48 > 0:07:51when younger brother Harry had a bright idea.
0:07:51 > 0:07:54I spoke to my brother one evening and he said, "What are you up to?"
0:07:54 > 0:07:57And I said "Well, I've actually arranged a phone call
0:07:57 > 0:08:00"to go and meet with one of the aircraft breakers."
0:08:00 > 0:08:01So he wanted to come along.
0:08:01 > 0:08:04We had very little money to start with.
0:08:04 > 0:08:08We travelled up to facility,
0:08:08 > 0:08:10bought a few scrap pieces.
0:08:10 > 0:08:13Kind of spent a long time figuring out how to work on them,
0:08:13 > 0:08:14and make them look nice.
0:08:14 > 0:08:17Basically learned how to become kind of product designers
0:08:17 > 0:08:21and makers at the same time because neither of us had any background in that
0:08:21 > 0:08:26beyond tinkering with the tractors and always playing around with motorbikes and things.
0:08:26 > 0:08:30Yeah, gotta be careful with that, it bangs against the metal.
0:08:30 > 0:08:32I think there's something really interesting about aviation.
0:08:32 > 0:08:35You know, we're not plane spotters or anything.
0:08:35 > 0:08:37We didn't know much at all about aviation.
0:08:37 > 0:08:39But even if you don't have a fascination with aircraft,
0:08:39 > 0:08:42it's something quite magical and interesting.
0:08:42 > 0:08:45We're taking the delivery of an engine cowling
0:08:45 > 0:08:50that we've turned into a bar for a client in Richmond, in London.
0:08:50 > 0:08:54It's taken longer than expected in the first place.
0:08:55 > 0:08:57And there can be no...
0:08:57 > 0:08:59..no mess-ups at this point.
0:09:00 > 0:09:03- Which way has it got to go? - That way, down.
0:09:03 > 0:09:05- All right?- Yes. That's it, there.
0:09:05 > 0:09:08- I'll get this side.- OK.
0:09:08 > 0:09:11Most small businesses fail within the first five years,
0:09:11 > 0:09:14so the brothers needed to get their sums right.
0:09:14 > 0:09:16Producing their furniture is costly,
0:09:16 > 0:09:20so if it doesn't sell, that means big losses.
0:09:21 > 0:09:25This has been like a mammoth build. This has been really, really tough.
0:09:25 > 0:09:28Yeah, a really tricky one - the shape of the cowling, taking it off.
0:09:28 > 0:09:30Really expensive and really time-consuming.
0:09:30 > 0:09:34But it's going to look amazing when it's done and it's going to be in a really beautiful house.
0:09:34 > 0:09:38Once it's all set up and in place and the client's happy,
0:09:38 > 0:09:41then that's the nicest part, just to feel a bit relieved.
0:09:42 > 0:09:44We've never used this colour before.
0:09:44 > 0:09:46But it's...
0:09:47 > 0:09:49It's nice, isn't it?
0:09:50 > 0:09:52The brothers grew up on this farm
0:09:52 > 0:09:57and turned the old pigsty into their workshop in 2013.
0:09:57 > 0:09:59For 20 years, it was used as a dumping ground.
0:09:59 > 0:10:02We spent about nine months renovating it.
0:10:02 > 0:10:06We repointed every single brick, relayed all the concrete,
0:10:06 > 0:10:10electricity, plumbing, installed a toilet, rebuilt the roof...
0:10:10 > 0:10:14Yeah, we kind of set it up for the long term.
0:10:14 > 0:10:16This takes you through to the...
0:10:16 > 0:10:17to the workshop.
0:10:19 > 0:10:22Yeah, so this is basically where we make all our bits and pieces.
0:10:22 > 0:10:24As you can see at the moment, we've got a lot of product in here
0:10:24 > 0:10:27that we're trying to get out to customers.
0:10:27 > 0:10:31Given the size of these pieces and the relatively limited space here,
0:10:31 > 0:10:33it gets crowded pretty quickly.
0:10:33 > 0:10:36Although they had the premises,
0:10:36 > 0:10:40they needed money for tools and to be able to buy the aircraft parts,
0:10:40 > 0:10:43which don't come cheap.
0:10:43 > 0:10:45We went to the high street banks,
0:10:45 > 0:10:47kind of walked in, explained our situation.
0:10:47 > 0:10:51The most they could lend us was £3,000 unsecured.
0:10:51 > 0:10:54That's when we started to explore alternative lending.
0:10:54 > 0:10:57Yeah, so when we first approached the Fredericks Foundation,
0:10:57 > 0:11:00we went in asking for £10,000
0:11:00 > 0:11:02because we wanted to do a trade show.
0:11:02 > 0:11:06The Fredericks Foundation is a community finance initiative
0:11:06 > 0:11:08that helps get new businesses off the ground.
0:11:10 > 0:11:13Its founder, Paul Barry Walsh,
0:11:13 > 0:11:15dealt with Harry and Ben's loan application.
0:11:15 > 0:11:19One thing that we quite liked is there's two of them.
0:11:19 > 0:11:22Two people working together are more likely to be successful than one.
0:11:25 > 0:11:28It's great to have someone to bounce things off.
0:11:28 > 0:11:31So that was a factor in their favour, even though we had
0:11:31 > 0:11:35absolutely no ideas about taking old aircraft wings and cowlings
0:11:35 > 0:11:39and making those into seats and drinks cabinets, and...
0:11:39 > 0:11:42Of course it's a massive risk, but isn't it nice to be able to support
0:11:42 > 0:11:45something that's completely unique, rather than saying,
0:11:45 > 0:11:47"No, we've got no stats, we can't back it"?
0:11:47 > 0:11:51Otherwise we get no beauty in innovation and, you know,
0:11:51 > 0:11:54obviously, we'd like to support those ideas too.
0:11:54 > 0:11:57We came out of there thinking, "Oh, wow, so they've actually just given us close to ten grand
0:11:57 > 0:12:01"because they believe in what we're doing," which is a really nice feeling.
0:12:01 > 0:12:04And that allowed us to go to our first trade show.
0:12:04 > 0:12:08And then that trade show was the first time we took, you know,
0:12:08 > 0:12:12kind of, £4,000-£5,000-worth of orders that allowed us to kind of
0:12:12 > 0:12:16buy more tools and kind of just grew from there, really.
0:12:16 > 0:12:20It didn't take long for the business to flourish.
0:12:20 > 0:12:23So we're just working every day, like seven days a week, and
0:12:23 > 0:12:26eventually, the business just grew and grew, ending on kind of taking
0:12:26 > 0:12:28people on, building this workshop.
0:12:28 > 0:12:31And it's really unusual. And then I guess as it grows and grows,
0:12:31 > 0:12:34you become more and more passionate all the time.
0:12:34 > 0:12:37I'm really happy with it. Yeah, I think it's going to...
0:12:37 > 0:12:39When it's all up and running, it'll look amazing.
0:12:39 > 0:12:44The Fredericks Foundation also gave the brothers a mentor
0:12:44 > 0:12:47to help them grow the business in a sustainable way.
0:12:47 > 0:12:51They now have a full-time mentor, which, they meet on a monthly basis,
0:12:51 > 0:12:54because running your own business can be quite lonely.
0:12:54 > 0:12:57You've only got your own experiences to fall back on.
0:12:57 > 0:12:59Having somebody outside can be really useful.
0:13:01 > 0:13:03DRILLING
0:13:03 > 0:13:05At the time, we were just thinking,
0:13:05 > 0:13:07"Let's try and make a living for ourselves.
0:13:07 > 0:13:10"Let's just try and give ourselves some stability in life."
0:13:10 > 0:13:13And then these guys came along and they were like,
0:13:13 > 0:13:17"What you've got's really, really good, really interesting and quirky, and it could be really big."
0:13:17 > 0:13:20And at that point, you're like, "Oh, really? Wow, it could?"
0:13:20 > 0:13:22And then that's kind of set us down this path,
0:13:22 > 0:13:24where we're kind of thinking really big now.
0:13:25 > 0:13:29The help and support they received got them thinking about how else
0:13:29 > 0:13:31they could grow the business.
0:13:32 > 0:13:35They started to look at what they could make with other parts of an aircraft.
0:13:36 > 0:13:40- Yeah.- They're all made from discarded seating fabrics.
0:13:40 > 0:13:44They're amazingly high-grade fabrics...
0:13:44 > 0:13:46that effectively were going to landfill.
0:13:46 > 0:13:50I'd definitely have like a paper aeroplane-style key chain on there.
0:13:51 > 0:13:56The issue we had is that we'd never made a bag before, so you kind of have to start from scratch.
0:13:56 > 0:13:59We were focusing our entire efforts on making the luggage.
0:13:59 > 0:14:03So we thought we'd survive off the sales of the furniture
0:14:03 > 0:14:05and borrow the money to create the luggage,
0:14:05 > 0:14:07in order for us to take it to market.
0:14:07 > 0:14:10That's when we approached the Fredericks Foundation for the second time,
0:14:10 > 0:14:13and we asked for another £10,000 loan.
0:14:13 > 0:14:15They kind of cleared it within a heartbeat.
0:14:16 > 0:14:19Although the brothers hadn't been running the business for long,
0:14:19 > 0:14:23it was clear to Paul that they'd struck on a great idea.
0:14:23 > 0:14:26They turned over £280,000 last year.
0:14:26 > 0:14:29They're employing five people -
0:14:29 > 0:14:31two of them part-time,
0:14:31 > 0:14:33and obviously themselves.
0:14:33 > 0:14:35And now they're going to another phase of their business.
0:14:35 > 0:14:38They are going to start a stationery business -
0:14:38 > 0:14:41pens, papers - all inspired by airlines,
0:14:41 > 0:14:43made out of the aluminium from melted down aeroplanes.
0:14:43 > 0:14:47So again, it's a unique product and I think they stand
0:14:47 > 0:14:49a very good chance of being successful with that.
0:14:49 > 0:14:52This creative pair are always striving
0:14:52 > 0:14:55towards their next big idea.
0:14:55 > 0:14:56I think it's not only important,
0:14:56 > 0:15:00it's vital that we can get dynamic and innovative people off the ground
0:15:00 > 0:15:02and working and running in business.
0:15:02 > 0:15:05Business is a source of wealth, but also a source of fulfilment.
0:15:06 > 0:15:09Not what I wanted to happen, basically.
0:15:09 > 0:15:13So, allowing people to realise their dreams, how lovely is that?
0:15:13 > 0:15:17We spend most of our time in work, and if you don't enjoy it,
0:15:17 > 0:15:19it's not a great life. If you love your work and you're
0:15:19 > 0:15:22doing something you're passionate about, isn't that great?
0:15:22 > 0:15:26For me personally definitely it's about kind of the challenge,
0:15:26 > 0:15:28you know - can we do what we want to do, to set out to do?
0:15:28 > 0:15:31Yeah, I guess it's just how motivated you are.
0:15:31 > 0:15:34So I think making sure that I'm challenging myself
0:15:34 > 0:15:37and I want to get where I want to get to.
0:15:37 > 0:15:39- Your right.- My left, no?
0:15:39 > 0:15:41This way.
0:15:41 > 0:15:45Working with family has both benefits and challenges.
0:15:45 > 0:15:50It has its pros and cons, so being family, there's no holding back.
0:15:50 > 0:15:54You kind of think twice about throwing a drill at your business partner.
0:15:54 > 0:15:57You don't think twice about throwing a drill at your brother.
0:15:59 > 0:16:02You soon come to learn that business is a very cut-throat environment,
0:16:02 > 0:16:06where knowing that the person next to you isn't going to pull the rug
0:16:06 > 0:16:10out from underneath your feet one day is worth a lot.
0:16:10 > 0:16:13You'd better not do that, actually.
0:16:14 > 0:16:16Coming at you.
0:16:22 > 0:16:24At London Capital credit union,
0:16:24 > 0:16:28Mayglen is hoping her £2,000 loan will be approved,
0:16:28 > 0:16:31so she can pay for some home maintenance
0:16:31 > 0:16:33and send her son, Thomas, on holiday.
0:16:33 > 0:16:36You know, you have the mortgage and...
0:16:36 > 0:16:39sometimes unexpected things come up.
0:16:39 > 0:16:40I don't... I don't...
0:16:40 > 0:16:44you know, have lots of luxuries or anything like that.
0:16:44 > 0:16:47But just sort of day-to-day living and, as I said,
0:16:47 > 0:16:50things come up unexpectedly and sometimes you don't have the money
0:16:50 > 0:16:51to cover those things.
0:16:53 > 0:16:55We've made a decision on the loan.
0:16:55 > 0:16:56Mmm-hmm.
0:16:56 > 0:17:00And I'm looking at your loan application, loan's been approved.
0:17:00 > 0:17:04- So, all we're going to get you to do...- Well, that's a relief.
0:17:04 > 0:17:06I notice you're going on a holiday...
0:17:06 > 0:17:08I want to send Thomas on holiday.
0:17:08 > 0:17:10Oh, how long for?
0:17:10 > 0:17:12It'll be about four weeks, he's going.
0:17:12 > 0:17:15Ah! Take me with you in a suitcase, please.
0:17:15 > 0:17:19OK, then. So all I'm going to do now is just get you to...
0:17:19 > 0:17:21to sign the loan agreement,
0:17:21 > 0:17:26and also to sign the payroll deduction which is the new one,
0:17:26 > 0:17:28- cos the amount is different. - Of course.- Yeah?
0:17:28 > 0:17:30So I'll get you a pen.
0:17:30 > 0:17:34So, what you need to do is, for three and five.
0:17:34 > 0:17:36So you need to sign here and the date there...
0:17:36 > 0:17:38OK. That's lovely. Thank you.
0:17:38 > 0:17:42..while I get the agreement ready for you to sign, as well.
0:17:43 > 0:17:46It's exactly the result Mayglen wanted.
0:17:46 > 0:17:51So I got my loan, so I can get on and plan Thomas's holiday,
0:17:51 > 0:17:53get my bathroom floor fixed,
0:17:53 > 0:17:55and go to the dentist.
0:17:56 > 0:17:58Yeah, I'm really pleased.
0:17:58 > 0:18:01For me, it's the kind of essentials, you know, the things I deem...
0:18:01 > 0:18:03Yeah, so and that's great.
0:18:03 > 0:18:07- Yeah.- I'm glad you're here.- Yeah. - I'm glad you guys are here.
0:18:07 > 0:18:10Yeah, I'm glad to see you, too. It's been a long time.
0:18:10 > 0:18:12You know, they're wonderful people, all of them,
0:18:12 > 0:18:15every single person that I've met, you know, there are often
0:18:15 > 0:18:19new volunteers, around, but you know, the treatment is all the same.
0:18:19 > 0:18:24It's a very positive sort of vibrant environment and I recommended it
0:18:24 > 0:18:26to quite a few people at my workplace.
0:18:26 > 0:18:29- Patricia...- Yeah. Good to see you. - ..I'm so happy to see you.
0:18:29 > 0:18:32- Take care.- Yeah, you too.
0:18:32 > 0:18:34- Take care of yourself. - OK, take care. Thanks.
0:18:34 > 0:18:36- Yeah. OK, you're welcome. - Bye-bye.- Bye.
0:18:36 > 0:18:40Mayglen's long association with the credit union has made it easy for
0:18:40 > 0:18:43advisor Patricia to reach her decision.
0:18:43 > 0:18:47We look at her bank statements, we look at the way she pays us,
0:18:47 > 0:18:51we look at if she misses any payments, things like that,
0:18:51 > 0:18:53and if she's ever defaulted and we had any reason
0:18:53 > 0:18:55to send out any default letters to her.
0:18:55 > 0:18:58We've never had to do that with Mayglen.
0:18:58 > 0:19:00Her record is absolutely clean, yeah.
0:19:00 > 0:19:03So I was happy to say yes, just to give that...
0:19:03 > 0:19:06her son the opportunity to go away on holiday.
0:19:06 > 0:19:10In fact, I thought I might get a little bit less than I asked for,
0:19:10 > 0:19:12but they did give me what I asked for.
0:19:12 > 0:19:14I'm happy.
0:19:14 > 0:19:19Still to come, how discovering credit union funding gave a mum
0:19:19 > 0:19:21the courage to achieve her goals.
0:19:21 > 0:19:25One of the most wonderful feelings that I have experienced.
0:19:25 > 0:19:31..and how a businessman turned his life around after losing everything he owned.
0:19:31 > 0:19:35Bailiffs have been in to satisfy a debt that you owe.
0:19:35 > 0:19:37I just fell on the floor in tears.
0:19:37 > 0:19:40Credit unions are ethical lenders
0:19:40 > 0:19:45who aim to encourage a responsible attitude to handling money.
0:19:45 > 0:19:50When I joined back in 1993, we had about 900 members
0:19:50 > 0:19:54and we currently have about 27,000 members.
0:19:55 > 0:19:58In south London, they're getting a helping hand
0:19:58 > 0:20:03from the local authority with a savings scheme for schoolchildren.
0:20:03 > 0:20:06Southwark Council has been handing out £20 vouchers
0:20:06 > 0:20:08which children can use
0:20:08 > 0:20:12to open an account with London Mutual credit union.
0:20:12 > 0:20:16- Hello.- Hi, how you doing? - Ready to do that now.
0:20:16 > 0:20:18Although mum Kemi is not a member,
0:20:18 > 0:20:22her youngest daughter Rachel qualifies for the scheme.
0:20:22 > 0:20:24They gave us a voucher of £20 to open.
0:20:24 > 0:20:26They give to my daughter in school.
0:20:26 > 0:20:30They give them the voucher immediately when they are ten.
0:20:30 > 0:20:32And do you have
0:20:32 > 0:20:34your child's birth certificate or passport?
0:20:34 > 0:20:36One moment.
0:20:36 > 0:20:39With the younger generation leading by example,
0:20:39 > 0:20:41it might tempt mum to open her own account.
0:20:41 > 0:20:45Maybe I will add some of my family into it,
0:20:45 > 0:20:47or I myself can start...
0:20:47 > 0:20:49can open an account with them.
0:20:49 > 0:20:50Once the account is opened,
0:20:50 > 0:20:54Kemi hopes her daughter will learn to handle her own finances...
0:20:54 > 0:20:56with a little bit of help.
0:20:56 > 0:21:00At least with that, with a little fund in the account,
0:21:00 > 0:21:03they can take care of themselves by themselves.
0:21:03 > 0:21:06So after opening with the £20, I will...do a direct debit
0:21:06 > 0:21:10into the account for her, to be contributing towards it.
0:21:10 > 0:21:14- So that's your documents back.- OK, thank you.
0:21:14 > 0:21:16Once the account's opened in about two, three weeks' time,
0:21:16 > 0:21:19- you'll receive a welcome pack in the post.- OK. All right.
0:21:19 > 0:21:24- And once it's opened as well, we'll also deposit the £20 voucher into her account. OK?- Thank you.
0:21:24 > 0:21:26- Have a nice day. Take care. - You too. Bye.- Bye-bye.
0:21:30 > 0:21:34Credit unions exist to help members take charge of their own finances
0:21:34 > 0:21:38and it's their mission to encourage good money management.
0:21:38 > 0:21:42Junior savers are our next generation of our membership,
0:21:42 > 0:21:46so we encourage them to save money from the very beginning
0:21:46 > 0:21:48to get into the habit of savings.
0:21:48 > 0:21:51It's the habit of saving we wanted to encourage.
0:21:51 > 0:21:54Any little bit, amount of money, it all helps.
0:21:54 > 0:21:58Start building that resilience, you build up a future, you start planning your money.
0:21:58 > 0:22:01A couple of pounds a week seems like nothing.
0:22:01 > 0:22:05But we will applaud that, because a couple of pounds a week
0:22:05 > 0:22:07will give you about £104 a year.
0:22:07 > 0:22:12So it can work in a variety of ways for different ages of people.
0:22:13 > 0:22:16If money management skills aren't taught in childhood,
0:22:16 > 0:22:19it can lead to a lifetime of financial worries.
0:22:20 > 0:22:25I worry about perhaps not being able to pay my rent and stuff like that.
0:22:25 > 0:22:28That's actually a big worry for me.
0:22:28 > 0:22:30I think expenses have gone up,
0:22:30 > 0:22:34and people are having to pay a lot more in order to survive, to live,
0:22:34 > 0:22:36and so they are getting themselves into debt too young,
0:22:36 > 0:22:39and it's just like a noose around their neck.
0:22:39 > 0:22:42First two weeks, I'm rich, second...well, third week,
0:22:42 > 0:22:45I'm not so rich and the fourth week I'm pretty poor.
0:22:46 > 0:22:49Having even a small pot of savings
0:22:49 > 0:22:52can prove invaluable when the unexpected happens.
0:22:53 > 0:22:57As a teenager, Brian had no idea how to manage money,
0:22:57 > 0:23:00so when his mother died when he was just 18,
0:23:00 > 0:23:03he ended up in serious debt.
0:23:03 > 0:23:04She was a great mother.
0:23:04 > 0:23:07I have very fond memories of her.
0:23:08 > 0:23:10But she died too soon.
0:23:10 > 0:23:14Anything after her death was just bad...
0:23:14 > 0:23:16for a very long time.
0:23:16 > 0:23:18It was so traumatic for Brian
0:23:18 > 0:23:22that he hasn't kept any photographs of his mother
0:23:22 > 0:23:24or of that period in his life.
0:23:24 > 0:23:26Mum gave me everything she could give me.
0:23:26 > 0:23:29We weren't wealthy, so I didn't grow up
0:23:29 > 0:23:33in a house full of everything, but it was lovely.
0:23:33 > 0:23:37Mum loved me to bits and she did everything for me first,
0:23:37 > 0:23:39before herself.
0:23:39 > 0:23:43Brian grew up in the Cotswolds. His mum was a single parent.
0:23:44 > 0:23:47I think she worked as a typist,
0:23:47 > 0:23:50and a cleaner. But she always wanted to be home at three o'clock
0:23:50 > 0:23:53to welcome me home from school, so she never had a full-time job.
0:23:55 > 0:23:59After a happy childhood, Brian's life changed dramatically
0:23:59 > 0:24:03when his mum was diagnosed with terminal cancer.
0:24:03 > 0:24:06She said, "I've been to the doctors, the cancer has come back."
0:24:06 > 0:24:08She had it when I was about 14, 15.
0:24:10 > 0:24:14She said, "I've got cancer, so I've got about 18 months to live."
0:24:14 > 0:24:18And I was in some form of self-denial, shock.
0:24:19 > 0:24:21I was doing my A-levels.
0:24:23 > 0:24:27The school knew that she was poorly.
0:24:27 > 0:24:30What they didn't know is, each day when I arrived home,
0:24:30 > 0:24:34she had either been sick from the drugs, she was wasting away,
0:24:34 > 0:24:36she was dying, literally, in front of me.
0:24:36 > 0:24:38Friends were helping.
0:24:38 > 0:24:41Family... Her side of the family were helping.
0:24:43 > 0:24:47But I would come home and see her having deteriorated each day.
0:24:50 > 0:24:54So that went on until about January, February...
0:24:54 > 0:24:57She said, we'll book a holiday, we'll go on holiday.
0:24:58 > 0:25:02And I said, "Well, the week you want to go away is football trials."
0:25:03 > 0:25:06So we didn't go on the holiday and then she died.
0:25:06 > 0:25:10And she died on March 15, '93, at 7.05 in the morning.
0:25:10 > 0:25:14And that is a date I always remember, so... Yeah.
0:25:15 > 0:25:20Aged 18, Brian found himself living alone and totally unable to cope.
0:25:20 > 0:25:23My mum didn't teach me about anything.
0:25:23 > 0:25:26She just loved me and said, "So long as you're a good person..."
0:25:27 > 0:25:29There was no career guidance.
0:25:29 > 0:25:32There was no...
0:25:32 > 0:25:34"You need to prepare for adulthood."
0:25:34 > 0:25:38I was expected to do my A-levels in ten weeks' time, and run a house.
0:25:39 > 0:25:42What's this electricity bill that's just come through?
0:25:42 > 0:25:44The gas board want how much?
0:25:44 > 0:25:46Council tax, you say?
0:25:46 > 0:25:49Rent... Ooh, you have to pay rent?
0:25:49 > 0:25:51Oh.
0:25:51 > 0:25:53Ooh, food costs money...
0:25:53 > 0:25:55and you have to cook it.
0:25:56 > 0:26:00Oh, I'm not ready for this. And I didn't pay the electricity bill
0:26:00 > 0:26:01cos I didn't know how to do it,
0:26:01 > 0:26:06so we got cut off. And they didn't really care that Mum had died,
0:26:06 > 0:26:10they just wanted their money. So they fit an electricity meter.
0:26:10 > 0:26:11Same with the gas board.
0:26:11 > 0:26:13Same with the water.
0:26:14 > 0:26:17Rent was taken care of because I was in school.
0:26:17 > 0:26:21But running a house is quite difficult, it turns out -
0:26:21 > 0:26:23and paying all the bills.
0:26:25 > 0:26:27Because he was in full-time education,
0:26:27 > 0:26:30Brian only qualified for limited benefits.
0:26:30 > 0:26:33I didn't go into school every day because sometimes I'd get up
0:26:33 > 0:26:36and I was cold cos there was no heating, or I hadn't eaten.
0:26:38 > 0:26:42Cos I was at school, I was entitled to what they called income support.
0:26:42 > 0:26:44And I think you got...
0:26:44 > 0:26:4818 quid a week, to cover everything.
0:26:48 > 0:26:4980p a day for food, then.
0:26:53 > 0:26:56Now, a loaf of bread was about 15p back then.
0:26:56 > 0:27:00So I ate a lot of bread. And toast.
0:27:00 > 0:27:01Not always butter.
0:27:01 > 0:27:03Life was a struggle.
0:27:03 > 0:27:09And when he finished his exams in June 1994, it got even worse.
0:27:09 > 0:27:12The day after I left school, if I didn't fill in a form,
0:27:12 > 0:27:15I didn't get my housing benefit, I fell into rent arrears,
0:27:15 > 0:27:17and council tax arrears.
0:27:17 > 0:27:19And there was nobody knocking on the door saying,
0:27:19 > 0:27:22"Right, this is what needs to happen, here's your next steps -
0:27:22 > 0:27:26"when you leave education, you will need to work or claim benefits."
0:27:26 > 0:27:29Literally, "The day you leave school,
0:27:29 > 0:27:31"you must find work or claim benefits and if you don't,
0:27:31 > 0:27:35"we'll start charging you rent and council tax," and within ten weeks,
0:27:35 > 0:27:38you owe ten weeks' worth of rent and council tax.
0:27:38 > 0:27:43Despite mounting debts, Brian was determined to get a degree.
0:27:43 > 0:27:46He took up a place at York University,
0:27:46 > 0:27:49but he didn't make it past his first term.
0:27:49 > 0:27:52I received a phone call from the administrative team.
0:27:52 > 0:27:55They said, "The council are on the phone."
0:27:55 > 0:27:59"Mr Stoman, we understand you're at university now." "That's correct."
0:27:59 > 0:28:03"Well, that's a problem because you took over your council house from
0:28:03 > 0:28:07"your mum and if you're not living in it for 32 weeks a year, you can't stay,
0:28:07 > 0:28:11"so we're chucking you out, or you've got to quit uni."
0:28:11 > 0:28:14So I quit uni, went back to live in the house.
0:28:14 > 0:28:16Everything should be fine.
0:28:16 > 0:28:18Except, now the local education authority said,
0:28:18 > 0:28:24"You've quit university, we want our £6,000 grant back which we paid university, thank you."
0:28:24 > 0:28:26Well, I can tell you, in 1994,
0:28:26 > 0:28:30£6,000 was about a year's wages for anybody at sort of my level.
0:28:30 > 0:28:33So they wanted a year's income, and I didn't have an income.
0:28:33 > 0:28:36And the council said, "Because you weren't looking for work and
0:28:36 > 0:28:40"didn't tell us you were at university, we want 12 weeks' rent."
0:28:40 > 0:28:43So in the space of half a term at university,
0:28:43 > 0:28:45I now owed £10,000...
0:28:45 > 0:28:47..in 1994...
0:28:47 > 0:28:49..with no job.
0:28:50 > 0:28:53Brian got himself a job, but couldn't earn enough
0:28:53 > 0:28:55to start paying off the debt.
0:28:56 > 0:28:58My first job paid 50 quid a week.
0:29:00 > 0:29:02So that's the scale of debt.
0:29:02 > 0:29:04It was unsurmountable.
0:29:04 > 0:29:07I didn't pay it off. I couldn't pay it off.
0:29:07 > 0:29:13And so it went to court, and I picked up my first two CCJs...
0:29:13 > 0:29:15which, even then, were serious.
0:29:15 > 0:29:19A County Court Judgment can be issued when a company makes
0:29:19 > 0:29:21a legal claim for money owed.
0:29:21 > 0:29:25Brian couldn't pay, so the court enforced the debt using bailiffs.
0:29:27 > 0:29:30I remember coming home one day and the door was open. I thought,
0:29:30 > 0:29:34"Oh, that's not right." And I walked upstairs and the house was empty.
0:29:34 > 0:29:36Pile of cables in the corner.
0:29:38 > 0:29:41Been robbed. And then I found the paperwork on the stairs.
0:29:41 > 0:29:45It said, "The bailiffs had been in to satisfy a debt that you owe,"
0:29:45 > 0:29:49and they'd taken everything. And I just fell on the floor in tears.
0:29:49 > 0:29:52Brian was still only 21.
0:29:52 > 0:29:54The next ten years were a struggle.
0:29:54 > 0:29:56He moved from job to job,
0:29:56 > 0:30:00never earning enough to pay off his remaining debts.
0:30:00 > 0:30:04I now had the worst credit that you can have.
0:30:05 > 0:30:09Nobody asks you for your back story when you're applying for credit.
0:30:09 > 0:30:13They look at who you are now, snapshot of your life today,
0:30:13 > 0:30:17and make their decision. They don't care why.
0:30:17 > 0:30:20Eventually, Brian got a good job in IT,
0:30:20 > 0:30:23and was able to start thinking about the future.
0:30:23 > 0:30:25That was the beginning...
0:30:27 > 0:30:29..of settling all debts,
0:30:29 > 0:30:31paying everybody off,
0:30:31 > 0:30:34of being able to start to think about a house and a family.
0:30:34 > 0:30:36And I'd just met my now wife.
0:30:36 > 0:30:38So we were able to start to plan.
0:30:41 > 0:30:43When that was, probably about 2002.
0:30:45 > 0:30:46So nearly a decade after...
0:30:48 > 0:30:52..you know, I'd left school and all that had happened then,
0:30:52 > 0:30:55I was able to start to think about...
0:30:55 > 0:30:56normality.
0:30:56 > 0:31:02By the time Brian was 30, he'd managed to clear his early debts.
0:31:02 > 0:31:06But the County Court judgments have had a huge impact on his adult life.
0:31:07 > 0:31:11Even when you've paid it off, it stays on your credit file for six years.
0:31:11 > 0:31:14I remember being at work and my mortgage broker calling me, saying,
0:31:14 > 0:31:16"Brian, you can't have a mortgage."
0:31:16 > 0:31:23So getting a CCJ is huge, at all costs to be avoided.
0:31:23 > 0:31:27It's massive. It's going to affect you for 10-12 years.
0:31:28 > 0:31:32Today, Brian is a businessman running his own IT company,
0:31:32 > 0:31:35after getting a government-backed start-up loan
0:31:35 > 0:31:39from an ethical lender in 2016.
0:31:39 > 0:31:44I've often thought about what advice I would give my younger self
0:31:44 > 0:31:47and overall, it's not to get into debt, isn't it?
0:31:47 > 0:31:51But I think it's clear that debt can sometimes just happen.
0:31:52 > 0:31:56Possibly through your own fault, but sometimes not.
0:31:57 > 0:32:01The best way to get out of debt is to earn money.
0:32:02 > 0:32:08That's it. So if you fall into debt, call them, explain your situation,
0:32:08 > 0:32:12ask for a year, and then go and find ten jobs.
0:32:12 > 0:32:16Clean, cook, drive.
0:32:16 > 0:32:19And get as much money as you can, and clear the debt.
0:32:26 > 0:32:28For people on a tight budget,
0:32:28 > 0:32:31credit can be a great way of spreading the cost of large purchases,
0:32:31 > 0:32:35but only if repayments are made on time.
0:32:35 > 0:32:38Non-payments of debts can lead to court orders which can affect your
0:32:38 > 0:32:43credit rating and therefore your ability to borrow in the future.
0:32:43 > 0:32:46It's a really good idea to know what your credit score is, because
0:32:46 > 0:32:51it's what lenders look at when they're considering whether you're a suitable person to lend to.
0:32:51 > 0:32:54Now, there's a lot of TLC you can give your credit report.
0:32:54 > 0:32:56The first thing you should do is check it regularly.
0:32:56 > 0:33:00You can do that for as little as £2 or you can sign up for free to do it
0:33:00 > 0:33:02with some credit reference agencies.
0:33:02 > 0:33:06You should look on there to make sure all the information is correct,
0:33:06 > 0:33:08that there's no debts that you haven't got,
0:33:08 > 0:33:11that there's no addresses that it says you've lived at which you haven't,
0:33:11 > 0:33:14and also that there are no financial links to people
0:33:14 > 0:33:16that you've never had an account with.
0:33:16 > 0:33:19If there is, that's a clear sign you need to address it
0:33:19 > 0:33:23as it could impact the cost and your ability to borrow down the line.
0:33:24 > 0:33:27Whatever you need credit for - a mortgage,
0:33:27 > 0:33:31to start a business or to finance buying a car or a holiday,
0:33:31 > 0:33:33your credit rating is important.
0:33:34 > 0:33:38There's no way that a bank would have considered her for a loan with the credit score that she had.
0:33:38 > 0:33:41It was extremely low. It was a real risk.
0:33:41 > 0:33:43But we like... We sometimes take risks,
0:33:43 > 0:33:45because that's what we're about.
0:33:45 > 0:33:49We're about helping people in the community, if we can possibly do it.
0:33:49 > 0:33:51- Hello.- Hi.
0:33:51 > 0:33:56With a poor credit rating, borrowing on the high street can be difficult.
0:33:56 > 0:34:01Banks don't necessarily have the facility for all these nuances of
0:34:01 > 0:34:03how people manage their lives.
0:34:03 > 0:34:06They've got their commercial rules on how they operate.
0:34:06 > 0:34:08We don't have those in quite the same way.
0:34:08 > 0:34:10There are rules about credit
0:34:10 > 0:34:13but they're not about credit scores, for instance.
0:34:14 > 0:34:20Credit unions and other ethical lenders can help people who've got into trouble.
0:34:20 > 0:34:22We are basically here to help the community.
0:34:22 > 0:34:24And we are for the people
0:34:24 > 0:34:27that maybe the high street banks feel are too much of a risk.
0:34:27 > 0:34:30So we are willing to take that risk with these members
0:34:30 > 0:34:34and hopefully maybe rebuild their financial history as a whole,
0:34:34 > 0:34:37because obviously, if you do repay back loans, that would...
0:34:37 > 0:34:40that would actually improve your credit scoring.
0:34:42 > 0:34:47In Leicester, Clockwise credit union has 10,000 members
0:34:47 > 0:34:50with more than £3 million in savings.
0:34:51 > 0:34:58In 2010, they gave single mum Marina a £1,000 loan to fund her studies.
0:34:58 > 0:35:00Today I'm at Leicester College.
0:35:00 > 0:35:02I have an appointment with my assessor.
0:35:02 > 0:35:04I have to hand in my assignment.
0:35:04 > 0:35:08For 38-year-old Marina, education has been a passport
0:35:08 > 0:35:12to a better life for herself and her two daughters.
0:35:12 > 0:35:17Education indeed has been one of the most important aspects
0:35:17 > 0:35:26of me growing up and of me excelling later on in my professional career.
0:35:26 > 0:35:28I couldn't have done it without the education.
0:35:30 > 0:35:32Originally from the Greek island of Crete,
0:35:32 > 0:35:37Marina came to the UK alone when she was just 17 to study English.
0:35:37 > 0:35:42I would never forget that day when I moved here in the UK,
0:35:42 > 0:35:46it was on the 23rd of September 1996.
0:35:46 > 0:35:49I was in London, in the underground.
0:35:49 > 0:35:54Now, bear in mind, I grew up in a very small fishing town
0:35:54 > 0:35:57where we didn't even have no traffic lights
0:35:57 > 0:36:00or actual big roads.
0:36:02 > 0:36:05So, suddenly arriving that evening, in London...
0:36:06 > 0:36:09Wow! It's an experience I will never forget.
0:36:09 > 0:36:15Now I was trying to remember all the English phrases and language
0:36:15 > 0:36:17that I had learnt at school.
0:36:17 > 0:36:21I couldn't say anything apart from "Hello, my name is..."
0:36:21 > 0:36:24So it was very difficult for me to communicate.
0:36:24 > 0:36:27I was very brave, looking back now.
0:36:27 > 0:36:29I don't think I could do it at this age.
0:36:29 > 0:36:32But then I was very, very brave indeed.
0:36:32 > 0:36:33OK, have you started?
0:36:33 > 0:36:38I have started the sort of, part A of the book.
0:36:38 > 0:36:40But I have...
0:36:40 > 0:36:44Marina passed her English course and decided to stay in the UK.
0:36:44 > 0:36:49She now has two daughters and works in sales at a high street store.
0:36:50 > 0:36:54Over the last 20 years, she 's continued to study
0:36:54 > 0:36:57to gain qualifications that would progress her career.
0:36:57 > 0:37:00To try to improve as a person,
0:37:00 > 0:37:04it is a great worry to want to improve within the career
0:37:04 > 0:37:06and, you know, the only way to do that,
0:37:06 > 0:37:11to show that commitment to your employers, as well, is by trying to
0:37:11 > 0:37:18furthering and bettering yourself, and to do that...is education.
0:37:18 > 0:37:24Knowledge. And then applying that knowledge for the work that you do.
0:37:25 > 0:37:28Paying for her education hasn't been easy.
0:37:29 > 0:37:33In 2010, she was working in social care
0:37:33 > 0:37:36and decided to enrol on a business studies course
0:37:36 > 0:37:39to help her into a higher paid job.
0:37:39 > 0:37:43But the course fees were almost £1,000.
0:37:43 > 0:37:48I felt quite disheartened because I knew there is no way I could ever
0:37:48 > 0:37:50afford this amount of money.
0:37:50 > 0:37:52I didn't have the extra.
0:37:52 > 0:37:56My wage was just enough to cover my rent
0:37:56 > 0:37:58and our needs as a family.
0:37:58 > 0:38:02I didn't have no extra money at all to finance myself for my level four
0:38:02 > 0:38:08in business studies. I thought working on two different jobs,
0:38:08 > 0:38:12morning and night, but then that was completely out of the book,
0:38:12 > 0:38:15because I wasn't able to...
0:38:15 > 0:38:19I didn't have anyone to look after the children in the evening.
0:38:19 > 0:38:24So I decided to approach my bank,
0:38:24 > 0:38:26with who I have been for so many years,
0:38:26 > 0:38:30and possibly go down the path of taking a loan
0:38:30 > 0:38:35and finance myself in paying my course.
0:38:35 > 0:38:39The bank was giving very high interest for the loan that I was
0:38:39 > 0:38:42looking to take, and that frightened me.
0:38:42 > 0:38:44It frightened me a lot.
0:38:44 > 0:38:47Marina asked her work colleagues for advice.
0:38:47 > 0:38:50They recommended Clockwise.
0:38:50 > 0:38:53One of the advisers there is Joe Green.
0:38:53 > 0:38:56When you meet Marina, the first thing that comes across is that,
0:38:56 > 0:38:59first of all, that she's a very lovely person to speak to, but she's
0:38:59 > 0:39:03very driven, she's very fixed on the things that are important to her.
0:39:03 > 0:39:06I thought I would never lose any chance by calling them.
0:39:06 > 0:39:09The staff member had the time to listen,
0:39:09 > 0:39:14asked me to bring more details of my finances -
0:39:14 > 0:39:16how much money come in the house,
0:39:16 > 0:39:19and why did I need the loan?
0:39:19 > 0:39:21How would that loan help me?
0:39:21 > 0:39:25Marina's circumstance was actually a really good example of the kind of
0:39:25 > 0:39:26people who come to see us.
0:39:26 > 0:39:31She had a job but she supplemented that income with tax credits and
0:39:31 > 0:39:35child benefit but the problem that she had is high street banks often
0:39:35 > 0:39:38won't count benefits such as tax credits as income.
0:39:38 > 0:39:43So Marina had X amount per month coming in, but a really sizeable
0:39:43 > 0:39:46chunk of that was effectively zeroed off by a lot of the people
0:39:46 > 0:39:48she went to look for money from.
0:39:49 > 0:39:52After assessing Marina's ability to pay back the loan,
0:39:52 > 0:39:55the credit union had their decision.
0:39:56 > 0:39:58Very quickly, within about two or three days,
0:39:58 > 0:40:04I received a call and they actually offered me the loan that I asked,
0:40:04 > 0:40:06at the time it was £1,000.
0:40:06 > 0:40:13It was one of the best feelings ever because I knew I could fund myself.
0:40:14 > 0:40:18Marina attended college three nights a week for three years,
0:40:18 > 0:40:23while also holding down a job and bringing up her two children.
0:40:25 > 0:40:29When I graduated in 2013,
0:40:29 > 0:40:33it felt absolutely amazing.
0:40:33 > 0:40:35It felt...
0:40:36 > 0:40:42..a rewarding sort of experience of walking down the aisle and knowing
0:40:42 > 0:40:47that my two young daughters was in that crowd...
0:40:48 > 0:40:50..clapping for their mum.
0:40:50 > 0:40:55It is one of the most wonderful feelings that I have experienced.
0:40:55 > 0:40:57With her business qualification,
0:40:57 > 0:41:01Marina started a new career in retail management, and has since
0:41:01 > 0:41:05paid back the loan from the credit union that made it all possible.
0:41:05 > 0:41:08Being able to go on educational courses that make you
0:41:08 > 0:41:12more qualified, that improve your employability,
0:41:12 > 0:41:13can only be a good thing,
0:41:13 > 0:41:16you don't need to be an expert to work that out.
0:41:16 > 0:41:20So Marina is a bit of a dream customer for us, really.
0:41:21 > 0:41:23After seeing her mum's success,
0:41:23 > 0:41:28Marina's eldest daughter wants to see what help the credit union
0:41:28 > 0:41:31can offer her as she prepares for university.
0:41:31 > 0:41:35What I'm here today is to find out how Clockwise can help me,
0:41:35 > 0:41:38not only with a savings account but perhaps when I go to uni,
0:41:38 > 0:41:41all the loans that I will be taking out,
0:41:41 > 0:41:43how is it best to manage my money?
0:41:43 > 0:41:46So I'm excited to go have a look and see what they say today.
0:41:47 > 0:41:51Would you think that Clockwise can help us
0:41:51 > 0:41:54to pay the fees for my daughter's university?
0:41:54 > 0:41:56Yeah, it's definitely something we can look at.
0:41:56 > 0:41:58- Yeah.- I know a lot of people traditionally go down the route of
0:41:58 > 0:42:01borrowing to go to university. It is really expensive.
0:42:01 > 0:42:03We can have a chat about that any time you want -
0:42:03 > 0:42:04once you're a member of the credit union,
0:42:04 > 0:42:08- just come along at any point and we can discuss all the options. - Thank you.- Thank you.
0:42:08 > 0:42:11I think it's a really crucial thing that I follow through
0:42:11 > 0:42:15with what they said today as well. I really liked it.
0:42:15 > 0:42:18For credit unions, it's all about encouraging
0:42:18 > 0:42:21the next generation to be responsible with their money.
0:42:21 > 0:42:26- How much are you putting in? What's that?- £1.- £1.- £1, OK.
0:42:33 > 0:42:35Since our filming,
0:42:35 > 0:42:39Harry and Ben's furniture business has continued to grow.
0:42:39 > 0:42:43They've recently fitted out a private airport in Farnborough
0:42:43 > 0:42:45and sent a large order over to China.
0:42:45 > 0:42:47Like that.
0:42:47 > 0:42:50And Marina has passed all the assessments for her course
0:42:50 > 0:42:53and she's doing just as well at work.
0:42:53 > 0:42:55Her employers are so impressed,
0:42:55 > 0:43:00they're arranging extra training and giving her more responsibility.
0:43:00 > 0:43:05It is one of the most wonderful feelings that I have experienced.