THe BBC is plugging credit unions this morning. I am all for that, as I think they are a good alternative to banks for a lot of people with simple financial needs.
but type in “credit union Hackney” into Google and you get this message.
Hackney Credit Union has ceased trading and the branch has closed.
So not a good start!
Type in “find credit union hackney” and you get some assorted credit check and loan adverts.
You do get this page from Hackney Council, which tells you about credit unions. But it doesn’t give the branches in the borough.
So unless you know about credit unions and where one is located, you haven’t really got much help.
If we want to get more people to use credit unions, then they must get control of the Internet. Especially typing “find credit union” should not get a loan shark.
Credit unions are much more successful in the US, but then they are much bigger with probably more branches. Look at the web site of the Credit Union of Southern California. IT certainly doesn’t look to be a small organisation. Where is the Londonwide credit union?
Could it be that the banks have got their friends in Government to effectively ban them?
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