BOOM credit union is a savings and loans co-operative, using members’ savings to make affordable credit available to people who are not properly served by mainstream banks, turning to high interest payday lenders, sub-prime lenders and loan sharks. This funding is for operating costs, including staff to maintain existing business and fixed costs. There has been large income loss, due to less applications for ethical and responsible loans, with less people having the means to repay in addition to having to suspend and reschedule current loans.