Ethos Public Relations Manchester

Credit union delight at £73 million Government boost

by Ethos public relations

Mark Lyonette, Chief Executive of ABCUL – the Association of British Credit Unions, has welcomed today’s announcement that the Government is investing up to £73 million in credit unions over the next four years, and that the Post Office could play a central role in delivering credit union services.

"We are delighted to learn that the Government is going to make up to £73 million available to continue the expansion and modernisation of credit unions over the next four years. We also welcome the Government’s commitment to providing access to credit union accounts through the Post Office network.

“Credit unions have achieved great things in recent years working with the support of the Department for Work and Pensions through the previous Growth Fund, so we are especially pleased to learn today that new funding is being made available.

“Credit unions have shown they can provide the financial products and services that people on lower incomes need – and want – but often struggle to get elsewhere.

“By linking up with the Post Office, credit unions will be able to reach many more families, making access to credit union services – such as bank accounts, bill payments, safe savings and low cost credit – that much easier.”

To read other news from ABCUL click here.

Posted at 3^rd March 2011