Credit unions in Britain: A time for change

D G McKillop, J O S Wilson

Research output: Contribution to journalArticlepeer-review

24 Citations (Scopus)

Abstract

As member-owned, not-for-profit financial institutions, credit unions are an important instrument of public policy, particularly in pushing forward measures to tackle financial and social exclusion. Historically, the credit union movement in Great Britain has been hampered by a number of factors, including a lack of leadership, a cohesive identity and regulatory impediments. Recent legislative review and change has provided credit unions with the opportunity to grow and extend the scale and scope of services they can offer to their members. However, policy-makers should be aware that funding initiatives to support credit union development might undermine their self-help cornerstone and weaken the future development of the movement.

Original languageEnglish
Pages (from-to)119-123
Number of pages5
JournalPublic Money & Management
Volume23
Publication statusPublished - Apr 2003

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