Credit unions provide a not-for-profit and ethical alternative to the multinational banks. in the larger UK cities credit unions are able to offer conventional banking facilities such as direct debits and even mortgages.
The Green Party are committed to nurturing the potential of credit unions to provide an ethical, localised alternative to the high street banks while at the same time wiping the streets clean of loan sharks, doorstep lenders and pawnbrokers.
Carlisle Credit Union are currently trying to buy their premises in order to provide better ongoing facilities. Green activists have joined the 1600 Credit Union members, including candidate John Reardon (pictured joining Credit Union with fellow Green Elaine Bromley) who increased his vote to over 20% in the recent council elections.
As reported in the Cumberland News recently,
John Reardon said: "Greens are very supportive of credit unions. They reduce the dependency on big banks, which have been taking people for a ride.
The banks got us into this mess and are still paying big bonuses to employees. We have this great asset [the credit union] that provides an alternative source of finance and gets money into the local economy."
John Reardon also stated it was Green Party policy to invest public sector pension funds in credit unions.
For more information see Carlisle Green Party website
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