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Abcul coop-Government urges employers to work with credit unions

August 13, 2014

ENP Newswire - 13 August 2014

Release date- 12082014 - The Economic Secretary to the Treasury Andrea Leadsom MP today encouraged employers and voluntary sector organisations to engage with credit unions to help them provide affordable credit and responsible financial services in their communities.

Following the launch of the government's call for evidence on credit unions in June, the Economic Secretary visited London Mutual Credit Union today (12 August) to hear how credit unions offer savings, loans and a range of financial services to people from all walks of life.

Andrea Leadsom said: 'Credit unions play a vital role in their communities, providing access to affordable credit for those who need it most. This government is determined to help credit unions provide these services to even more people.

'That is why I am today urging private sector employers and wider society to consider what more they can do to promote the use of credit unions among their employees and communities.'

Lucky Chandrasekera, Chief Executive of London Mutual Credit Union, said: 'Credit unions are seen as the growing local financial service providers in the UK and best able to help the most vulnerable people in our community.'

ABCUL Chief Executive Mark Lyonette welcomed the Minister's support, saying: 'Some of the most effective credit unions in the world have built their success on strong partnerships with the public and private sector to make credit union membership an easy, no-hassle employee benefit.

'This model has been key to the success of some of this country's largest credit unions too, and there is massive potential for more private, public and third sector employers to promote credit union membership to their staff and service users.'

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Source: ENP Newswire

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