Friday, 18 June 2010

Credit Union expertise recognised as Makerfield MP elected secretary of parliamentary group

Yvonne Fovargue MP has been elected secretary of the All Party Parliamentary Group on Credit Unions at its AGM held this week in Westminster. Yvonne’s interest and knowledge of the credit union sector, developed through her working life, has been recognised by fellow parliamentarians.

The group will provide a forum for discussing the future role of credit unions as well as seeking to persuade the government that a flexible legislative framework is the best way for local credit unions like Unify and Welcome to flourish and provide financial services to people.

Yvonne said, “Credit Unions offer a safe and reliable way to save and they play a vital role in helping people through difficult financial circumstances."

“Too many low income borrowers face extortionate rates of interest, but credit unions provide loans at low cost and help to keep the loan sharks away from the doorstep."

“Credit Unions also support the growing appetite amongst the public for mutual alternatives to banks."

“One step that I will take is to lobby the government to allow full credit union services to be available through the post office network.”