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Catalyzing worker co-ops & the solidarity economy

Credit Unions as an alternative to unethical sources of finance

Credit unions around the world are doing their bit to help with the cost of living crisis by providing low-cost loans.

A March 2022 report by the Centre for Social Justice, an independent UK think-tank, identified credit unions as a key player in the affordable finance ecosystem which could help vulnerable people. It found that 62% of those who became victims of loan sharks had an income of below £20,000 a year, with about half of this number on less than £15,000. It also revealed that 66% also had debts owing to legal creditors and 75% were on benefits.

Read the rest at Co-operative News

 

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