Oral Answers to Questions

Madeleine Moon Excerpts

Monday 24th October 2011 Commons Chamber

[Steve Webb]

One of the things we are looking at as part of our feasibility study on the future of credit unions is their crucial role in supporting people who need financial advice and assistance. That work will report back to the Department next month.

[Mrs Madeleine Moon (Bridgend) (Lab)]

I declare an interest as one of the almost 3,000 members of the Bridgend Lifesavers credit union, which has loans of more than £500,000 but savings of £1 million and is keeping people out of the hands of doorstep loan sharks and the sadly growing numbers of pawnbrokers on our high streets. What can we do to ensure that people see credit unions, rather than doorstep loan sharks, as the way to save and borrow?