How councils can support Credit Unions
This new Guide, published jointly by the Co-operative Party and the Association of British Credit Unions (ABCUL), sets out practical ways in which local councils can support the formation and expansion of credit unions in their local area. The guide features examples of best practice including:
- Working in local schools to encourage financial literacy and good saving habits
- Helping local residents adapt to paying their rent under Universal Credit by providing rent guarantees to local social landlords
- Providing payroll deduction facilities to council staff, making it easier for them to save
- Support from local councils through the use of deferred shares or changes in procurement procedures.