A symbol is being designed to help borrowers in Dunedin identify a responsible lender.
Salvation Army gambling service counsellor Chris Watkins said six organisations offering finance, loans and hire purchase had shown interest in signing a memorandum of understanding with a group of social service agencies called ''lending matters'', including Salvation Army and Dunedin Budget Advice Service.
''We're almost there.''
The organisations to show interest were the Bank of New Zealand, New Zealand Credit Union, Chasmont Finance, Home Direct, Smith City and DTR.
Every lending organisation in Dunedin had been invited to join and would be invited again, he said.
A ''lending matters'' logo was being designed and then the memorandum would be available for agencies and lenders to sign.
The lenders who signed were expected to provide a direct contact person to deal with agencies.
Then, if an agency had a client with unsustainable debt, the lender and agency could work together to help the borrower made the debt manageable.
The group was also campaigning to improve financial literacy education in schools, he said.
''We are not just do-gooders trying to bang a drum. We really want some change,'' Mr Watkins said.
Chasmont Finance manager Mike Holley said he would sign the memorandum as soon as it became available.
He planned to use the lending matters logo in advertising to signal his company was a responsible lender.
''By signing up for this, we can proudly stand there and say we are a responsible lender, working with local groups, doing the right thing.''
He expected the lending matters logo would provide confidence in a similar manner to the Registered Master Builders logo.
He hoped the project would raise awareness about borrowing responsibly.
Creating a connection with social services agencies and learning about how borrowers found themselves with unmanageable debt, was ''wonderful''.
If he declined someone a loan and believed they had unsustainable debt, he would provide them agency information on how to get help, ''rather than just saying no and shutting the door and pushing them out to the next lender''.
