A DOORSTEP moneylender quoted a shocked Kirklees woman an amazing 751% annual interest.
Now, consumer chiefs are investigating the case.
Watchdogs branded the charge as outrageous, adding that vulnerable people were being put at risk by unscrupulous tactics.
The inquiry was revealed as two organisations fighting the scourge of doorstep moneylenders decided to merge.
The link has been forged by Castle and Minster Credit Union - based at Byram Arcade in Huddersfield town centre - and Meltham Savings and Loans Credit Union.
The co-operatives are owned and run by their members and offer savings and loans at fair and competitive rates.
Members make regular savings, to create a fund to make loans to each other.
Stuart Bethel, chairman of Castle and Minster, said: "This further merger, our third to date, combines our business strengths with the community strengths of Meltham Savers.
"It results in a more effective credit union, serving the financial needs of increasingly more members."
Membership of Castle and Minster is open to all people over 18 who live or work in Kirklees.
Surplus income generated from loans is returned to the members as a dividend on their savings.
Last year, Castle and Minster paid a dividend of 2.5% on savings on instant access balances from as little as £1.
Mr Bethel said: "From our town centre base, we aim to continue the good work with fellow credit unions, the council, other employers and partner agencies.
"This will bring the benefits of thrifty savings and responsible lending to greater numbers of the local population."
