A Christian presence in every community

Credit Unions

Introduction

++Justin Welby photo image'Our faith in Christ calls us to love the poor and vulnerable with our actions. That is why the Church must be actively involved in supporting the development of real lending alternatives, such as credit unions. This is not an optional activity, but a fundamental part of our witness and service to all God's people. It is also a chance for us all to redevelop and stimulate local, relational forms of banking focussed on serving the whole community.'
The Most Rev. Justin Welby, Archbishop of Canterbury


In interviews earlier this year, the Archbishop of Canterbury expressed his serious concerns about the social and emotional burden of debt caused by payday lending.

Whilst some of his comments have been interpreted as initiating a 'war on Wonga', he gave voice to a growing belief within the Church and wider society that there is an urgent need for better regulation of payday lenders, greater personal responsibility on the part of borrowers, and the availability of affordable credit.

A modernised and expanded credit union sector would contribute powerfully to these aims. We must help credit unions to become bigger, better known and easier to access if we want them to compete effectively with high interest lenders.

The Archbishop is calling on churches to support credit unions in their areas. The information on these pages gives some background information and links to resources, which you are free to use and adapt.

 

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