From tackling poverty to achieving financial inclusion—The changing role of British credit unions in low income communities |
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Authors: | Paul A. Jones |
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Affiliation: | aResearch Unit for Financial Inclusion, School of Applied Social and Community Studies, Faculty of Health and Applied Social Studies Liverpool John Moores University, Fouth Floor, Kingsway House Hatton Garden, Liverpool, L3 2AJ, United Kingdom |
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Abstract: | This paper offers an analysis of the changing role of co-operative credit unions in tackling poverty and promoting financial inclusion in Britain. It examines the reality of poverty in low income communities and endeavours to critique the actions, methodologies and initiatives currently being adopted by credit unions to achieve financial inclusion. It examines the role of the UK government in its support for credit unions and offers an early analysis of HM Treasury's Financial Inclusion Fund. The paper argues that credit unions are best placed within the financial services industry to make an impact within financially excluded communities. |
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Keywords: | Credit unions Poverty Financial inclusion Low income communities Financial services Organisational reform Co-operatives |
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