Blunkett backs role of credit unions

FORMER Education Secretary David Blunkett has backed the role of credit unions in a new pamphlet published by the Resolution Foundation. In A Ladder out of Poverty ?...

FORMER Education Secretary David Blunkett has backed the role of credit unions in a new pamphlet published by the Resolution Foundation.
In A Ladder out of Poverty ? From state-dependance to self-reliance, Mr Blunkett sets out proposals for the promotion of financial inclusion, tackling exploitative lending and the reform of the Social Fund.
Says the Sheffield Brightside MP: "Research has highlighted the role credit unions play in reducing reliance on high interest credit and, in addition to providing affordable credit and savings accounts, a number of credit unions are also currently piloting their own current accounts in partnership with the Co-operative Bank, offering the prospect of a range of mainstream financial services being provided through this route."

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