LONDON–A member of Parliament is getting behind a campaign to increase credit union membership in the United Kingdom to two-million by the year 2020. Current membership stands at 1.2-million, meaning an aggressive goal of growth by two-thirds must be met.
MP Mike Weir, from Angus, said he supports credit unions overall as well as the “#2020 vision for credit unions because credit unions provide a vital service to communities. They help people who find themselves in financial difficulty through providing affordable loans and a protected place to save and they are also helping to make banking more competitive in the aftermath of the 2008 crisis. Here in Angus the credit union can play an invaluable role in encouraging people to save for a rainy day, and provide a real alternative to the major banks.”