Hauliers urged to help fund LGCU
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HAULAGE FIRMS are urged to back the Logistics Guild Credit Union (LGCU), a dedicated funding pot for transport employees to borrow from.
The government has committed £1.29m to the LGCU, with major logistics firms contributing to the majority of the £600,000 capital required.
However, further funding is required to get the scheme up and running.
Buy-in from employers has also been called for, such as: payroll deduction for employee loan repayments, which is an important risk mitigation step for a credit union; and marketing the benefits of the LGCU to the workforce. Access to the LGCU requires membership of
the free-to-join Logistics Guild. Members will then have access to loans for personal training, learning and career development, as well as for general lifestyle purposes.
For example, it can attract job seekers wishing to become an HGV driver struggling to finance their training or Driver CPC. It can also support an owner-operator or logistics manager who wants to study for an MBA.
Ross Moloney, CEO of Skills for Logistics, which is leading the initiative, said: "It will play a significant part in providing finance that will attract people to our industry." • For more information, see logisticsguild.com