Mary supports local retailer
North Tyneside MP, Mary Glindon has paid a visit to Cash Converters on High Street, Wallsend on a fact finding mission to talk to local residents about how they are coping in the current economic climate.
Mary was welcomed by store owner, Galvin Mackay, chief executive, David Patrick and business development manager Tony Wardley, before being shown around the busy store at the bottom of the High Street.
During the visit to Cash Converters, Marywas told about the services offered in store before meeting some of the shop’s customers. Mary was keen to learn about the high street pay day lender's approach to lending, and was surprised at the rigorous checks that are completed before lending any sum of cash.
Mary Glindon MP said: “I very much enjoyed talking to the staff about how they deal with customers; it was obvious to me that the store is very much at the heart of the community and values its customer relationships.”
After watching the store in operation, Mary advised the staff and the management that the store offers invaluable services for her constituents. She understood the issues that are affecting the industry in which Cash Converters operates and advised that education is key to a better level of consumer and MP understanding.
The MP, who was elected in May 2010, discussed at length the best way to protect vulnerable consumers – particularly those with the lowest incomes – who might have found it hard to obtain credit through mainstream outlets, and were now searching for credit alternatives.
Mary added said: "I was very impressed by the transparency of the services on offer and how the store is committed to responsible lending; it is in their benefit to only lend to customers who they know are going to be able to repay.”
During the visit, David advised Mary that, as a company, Cash Converters welcomes regulation of the industry and encourages proper controls to protect customers. She was told that, as a specialist in second-hand goods retailing, pawn broking and the provision of a range of short term financial services, Cash Converters operates a responsible lending policy and adheres to the Consumer Finance Association Code of Conduct.
David Patrick, chief executive said: “It was great to welcome Mary to the Wallsend store and give her a detailed insight into the services that we offer her constituents. We work to the highest ethical standards, only lending customers an amount they can afford to repay, whichever service they use. We aim to build long-standing relationships with our customers and work with them to ensure they are not stretched beyond their means.”
Cash Converters is the UK’s number one retailer of pre-owned goods and the largest of its kind in the world. Since being launched in Australia in 1984 the company has grown enormously with more than 660 stores in over 21 countries worldwide.