AFFORDABLE CREDIT
There are a range of places that people can go to if they need to borrow money for something. Some charge more than others and not everyone has access to “cheap” credit.
Churches cannot advise people where to borrow money from. However, they can raise awareness of community finance organisations, such as credit unions, who lend affordably and ethically to those in their community who may otherwise not be able to get it.
Some of the local credit unions covering the Diocese of London are:
Hillingdon Credit Union
Covering Hillingdon, Uxbridge, Ealing & Hounslow
London Capital Credit Union
Covers all London but has focused in Islington, North London & the City
London Community Credit Union
Covering Hackney, Tower Hamlets, and most of East London
London Plus Credit Union
Covering Hammersmith & Fulham, Kensington & Chelsea, Westminster, Hounslow
North London Credit Union
Covering Enfield, Barnet and Haringey
Thamesbank Credit Union
Covers Richmond and Hounslow & Spelthorne
Churches can support their credit union through:
- Putting up flyers in church, talk about credit unions from the front, and in church magazine and website
- Offering their church as a collection point
- Signposting people to credit unions
- Depositing some church money with the credit union
- Volunteering with the local credit union- either in branch or on the volunteer board
Why not get in touch with your local Credit Union and find out how you can support affordable credit.
Other Community Finance initiatives:
Fair For You Household Goods online
Fair for You is a national ethical not-for-profit company, set up as an alternative to the high cost “Rent to Own” furniture & household stores (eg Brighthouse, Perfect Home). They sell household goods online and provide credit to buy the goods. http://www.fairforyou.co.uk/
