Credit Union Loans – Ever taken one or heard of them?

VOTE in this poll about Credit Unions and watch this video. Credit Unions are an alternative to payday loan form of lending and have become more widely known in recent times with the support of high profile public backers such as the Walthamstow MP Stella Creasy.

In this video from The Guardian, John Harris documents a credit union, Dragon Savers in the Rhondda Valley, South Wales and its customers.

Credit Union loans are an alternative to getting a payday loan and have become more widely known in recent times with the support of high profile public backers such as the Walthamstow MP Stella Creasy. View this then VOTE in the poll below.

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In Ireland, 50% of the population are members of a Credit Union. In America and Canada, the figure is around 40%. In Australia and New Zealand it is around 25%, but it is closer to 2% in the UK. Despite that, at least 86% of people are eligible to join a Credit Union in England, Scotland and Wales on the basis of where they live and the working areas that are served by Credit Unions.

Stella Creasy, 2010

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The comments in John Harris’ film from the local community in south wales may be indicative of a wider low awareness of the role of credit unions. The availability of credit union loans and the general awareness of them, is the focus of this poll. Vote now, in the anonymous poll.

Let us know your views on Credit Unions in the comments. We would be delighted to hear your experiences irrespective of your situation. You may comment using an existing profile or using a pseudonym as you wish.

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  1. The push to regulate credit unions or payday lending is not helping the consumer because they’ll still need the access to credit to pay the bills, whether it’s through the payday lender, the bank, or the credit union. Instead, banning or capping payday lenders facilitates a windfall for these very banks and credit unions to move in and pick up where the left off. This is just one of the many many examples of how big business weaponizes our democracy against its competition.

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