AXA agree to provide interest-free hardship loans…

Back in July we made a number of suggestions to AXA of measures they could undertake to help staff during the cost of living crisis; one of these was an expansion of the Season Ticket Loan scheme to cover loans for any purpose to help employees with immediate financial problems.

Obviously we would like people not to be in a position where they need to take out a loan, but Unite in AXA felt that an interest-free option on a similar basis to the 0% interest Season Ticket scheme would help employees facing difficult choices with limited (often high interest) options in the market place.

Unite are pleased to see AXA have agreed to implement this suggestion over the next three months (until a new proposition should be in place). Please speak to your manager if you want more information about how much you can borrow and over what period. We would remind Unite members that the union provides free independent financial advice as part of their membership benefits, more details can be found here.