'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.'
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.
- A5 credit union leaflet
- Guidance notes for dioceses and churches
- A4 credit union poster version 1
- A4 credit union poster version 2 - with space to add your own text
- A5 credit union flyer version 1
- A5 credit union flyer version 2 - with space to add your own text
- ABCUL General Briefing (Sept 2013)
- Guidance notes for PCCs
- CofE/CUF report on the role of credit unions