Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Funeral directors welcome scheme for low earners

Funeral directors welcome scheme for low earners

15 August 2014

The Government’s community finance scheme launched yesterday has been welcomed by the Funeral Directors Association as a safe way of helping low-income earners to access funds to pay for funerals.

The pilot scheme, which is available in Manukau and Waitakere, will allow access to funds for borrowers who banks don’t usually lend to. It is designed to help them access conventional sources of credit instead of using payday lenders and loan sharks.

Funeral Directors Association Chief Executive Katrina Shanks says the scheme has potential to help many low-income people on a number of fronts.

“It’s great that one of the areas the scheme will be open to is applications from people faced with paying for relatives’ funerals.

“A lot of people can’t afford to pay for funerals of loved ones immediately. This comes down to costs in general, but particularly the cost of burial.

“In many cases, funeral directors carry the costs until they are paid off, and they are happy to help where they can.

“In other cases, people with few means will choose cremation, often against their wishes, instead of burial because of the cost of plots.

“Other families go to loan sharks to get money to ensure their relative gets a good send-off. But that means they pay exorbitant interest rates.

“Under this scheme, which is backed by BNZ, these people can apply for loans which represent good discounts from market interest rates and free of traps such as fees and harsh penalties which some payday lenders charge.

“Including funerals on the list of criteria in the community finance scheme will go a long way to helping alleviate some of the stress that finance issues can add at an otherwise very stressful time.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news