Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how many (a) credit unions and (b) credit unions affiliated to faith groups there are in the UK.

There are currently 429 active credit unions in the United Kingdom.

Neither HM Treasury, the Prudential Regulation Authority nor the Financial Conduct Authority collect information on the affiliation of credit unions to faith groups. It is therefore not possible to provide the number of credit unions affiliated to faith groups in the United Kingdom.

The Government is, however, aware of the strong links between certain faith communities and credit unions. I was pleased to take part in a roundtable recently hosted by one such credit union, the Pentecostal Credit Union, to discuss issues facing its members.