Minister salutes Hull credit union

THE Secretary of State for Trade and Industry Alan Johnson MP visited a Hull-based credit union to see how it is progressing seven years after he helped launch...

THE Secretary of State for Trade and Industry Alan Johnson MP visited a Hull-based credit union to see how it is progressing seven years after he helped launch it.
Mr Johnson, MP for Hull West and Hessle, met Hull and East Yorkshire Credit Union&#039s (HEYCU) directors, staff and volunteers to see how financial inclusion is being promoted by helping people access affordable credit and build up savings.
Back in 1999 Mr Johnson spoke at the official launch of what was then known as City of Hull Credit Union, when it was only permitted to serve Hull City Council workers and their families.
Two years ago, after a change in the law, the credit union opened its doors to anyone living or working in Hull and East Yorkshire. It has since grown into a successful co-operative business, with 3,000 members, and now looks after members&#039 savings of &#163 2 million.
Mr Johnson said: "I am delighted that the credit union is going from strength to strength. The Government is keen to encourage local credit unions to help people build up assets and access affordable credit in order to end the scourge of the loan sharks and I congratulate HEYCU on what it has achieved to date."

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