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Meg Munn MP - Sheffield Heeley's voice in Parliament | Welcome
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Getting a Credit Union’s update

Wednesday, July 15, 2009

Meg recently attended the annual reception of the Association of British Credit Unions Limited (ABCUL). It was a good opportunity to discuss the range of current issues affecting the nation’s credit unions.  

Meg, a member of a credit union herself, said: 

“I am pleased that recent and forthcoming changes will make credit unions accessible to more people. Credit unions enable people to borrow money at reasonable rates once they have established themselves as regular savers. This is crucial during the current difficult economic situation. “ 

Issues discussed included the likely changes to legislation to allow credit unions to expand and to pay interest instead of dividends. Also the effects of Malcolm Wicks MP’s Bill - Co-operative and Community Benefit Societies and Credit Unions Bill - to enable speedy modernisation of credit unions in future. 

There was potentially good news in that ABCUL and the Post Office are in discussion about how credit union services could be made available through the Post Office network. This would be beneficial in increasing accessibility of credit union services and increase footfall in post offices. 

For information about ABCUL visit: http://www.abcul.org/page/index.cfm

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