Armed Forces (Service Complaints and Financial Assistance) Bill [HL]

Debate between Lord Astor of Hever and Lord Kennedy of Southwark

Monday 20th October 2014 Lords Chamber

[Lord Astor of Hever]

My Lords, I beg to move.

[Lord Kennedy of Southwark (Lab)]

My Lords, on Report, I moved an amendment about having a credit union for the Armed Forces. The noble Baroness, Lady Jolly, responding for the Government, was unable to accept my amendment but agreed that I could meet with the Minister responsible, Anna Soubry. That meeting took place at the MoD last week, and was very positive. Following the debate in the Chamber, a meeting also took place with forces charities which are supportive of a credit union for the Armed Forces. I understand that a discussion has taken place with the company which provides the payroll service for the MoD and it is hoped that either the costs will be considerably reduced or there will be no cost at all to the MoD.

What I understand to be happening next is that the MoD will identify a number of credit unions that are the right size to be able to deliver financial services to the Armed Forces community. We should be in a situation by the end of this year or early next year to offer the Armed Forces community credit union facilities that will provide loans, savings and other financial products that will be available through payroll deduction.

I thank the noble Baroness, Lady Jolly, for her kind assistance, Anna Soubry for working very hard on this, and the noble Lord, Lord Astor. I have been a supporter of the credit union movement my whole adult life and, as a Labour Co-op Member of your Lordships’ House, I am delighted that the campaign has proved successful and that members of the Armed Forces community will soon be able to benefit from this development, as will the Armed Forces charitable services. Could the Minister maybe say a few words to the House? I thank him very much for that.