BHF Finance has done away with the six-month waiting rule for new members, which until now has precluded them from using the company’s finance services during this period.
New members will now be able to deposit savings or apply for a loan of a business or personal nature from their trade association-owned bank upon joining BHF Group. As a result, all new subscribers will now have access to all group services from day one.
Group financial director John Collins commented: “BHF Finance raises its capital from members’ deposits. The finance company has always strived to make cash available to members at competitive rates and continues to do so. We need to ensure that members always come to us for a quote at least when they need extra cash, whether they are a long-standing member or new to the federation. For this reason the six-month waiting period has been consigned to the dustbin with immediate effect.”