Today is International Credit Union Day, when millions of people across the World who are members of credit unions spread the word about the ethical, affordable and co-operative alternative to traditional banks.
Membership of credit unions has doubled in the past decade, with more and more people choosing to use a credit union to borrow and save money.
As financial co-operatives, credit unions offer many of the same services as high street banks – such as loans and savings accounts – but unlike banks, are run on a not-for-profit basis and owned by members of the community they serve.
As the Co-operative Party, we’re proud to champion the credit union movement at a local and national level. Whether campaigning for an armed forces credit union or working with local councils to support the growth of credit unions in their area, the Party and our elected representatives are working to give the sector the support it needs to continue growing.
Ways to get involved
- Tweet about International Credit Union Day
Our Parliamentary Chair, Gavin Shuker MP has recorded a short video update on the Party’s work to support credit unions – help spread the word
- Download our Guide for Local CouncillorsWhich explains some of the ways local councils can support the growth of credit unions in your area
- Read today’s article by Ed MilibandEd Miliband MP has written for our blog today, looking back on the success of credit unions in recent years, and where we go next
Plough and Share Credit Union serves Devon
The Mission of the Plough & Share Credit Union is to work towards the financial inclusion of all. To achieve this Plough & Share is committed to providing a broad range of innovative financial products supported by the dedicated service of volunteers and professional staff. These products will be administered in accordance with sound management practices to maintain the financial strength of the Credit Union. The Board of Directors, Management and Staff of the Credit Union hereby affirm that the efforts of Plough & Share will be consistently and professionally dedicated to the accomplishment of this mission.
A Credit Union is a democratic, financial co-operative owned and controlled by its own members. Each Credit Union is run only to benefit its members, all of whom have something in common – the common bond.
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