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Credit Unions

Volume 407: debated on Wednesday 25 June 2003

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To ask the Chancellor of the Exchequer what action he is taking to promote and develop the use of credit unions; and if he will make a statement. [121632]

The Government support credit unions, and the role they play in providing access to affordable credit and alleviating financial exclusion. We are keen to create an environment in which the movement can grow and prosper. For example, we have undertaken a programme of legislative reform to help improve the operational flexibility of credit unions and increase the number of services they can offer their members.We are continuing to work with the sector to see how we can support and encourage its future development.