ENP Newswire -
Release date- 28072014 - A new report from the
The wide-ranging report makes recommendations in four areas: helping people in debt; making the market safe; building a nation of savers; and a new vision for social finance in the
Support for credit union expansion is recommended both as a means of encouraging saving, through making payroll deduction available as standard by employers, and supporting a new vision for social finance through a package of regulatory reforms such as increasing access to payment systems for smaller providers and giving credit unions more regulatory and legislative power to invest, innovate and collaborate.
The report's overall vision for credit unions and community finance is to see the sector flourish sustainably, independent of third party support.
ABCUL Chief Executive,
'Ultimately, credit unions will only succeed if we can develop a service which is attractive, accessible and meets the needs of a broad range of people,' he added.
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