Credit Unions
Hi
I have become quite involved with Ketts Credit Union, http://www.kettscreditunion.org.uk/. These are locally run organisations which encourage saving and sensible lending.
They are owned by their members, one person one vote. They should be the way forward for most communities. The members savings are used to help those who need loans. I know there are those who don't wish to encourage borrowing but it is better to lend people money at a sensible interest rate they can afford to pay back rather than just rely on charity.
This is particularly true, since the crash and the introduction of austerity measures people are finding it hard to cope. The banks which caused the disaster will only help those who don't need any help!
This way everyone is some sort of winner. There is a danger that if they get too big they become like banks with lots of paid employees and no local community.
Ketts cover some of the most deprived parts of Norwich, in terms of the Deprivation Index 16 out of the 25 most deprived parts of Norwich are covered by Ketts. For more information about credit unions see the ABCUL website, http://www.abcul.org/home. There was also an article in the Guardian money page this weekend.
I have tried to use adsense for my blogs, this is not to make me money but to try to help build up capital for Ketts, so please spread the word.
I have become quite involved with Ketts Credit Union, http://www.kettscreditunion.org.uk/. These are locally run organisations which encourage saving and sensible lending.
They are owned by their members, one person one vote. They should be the way forward for most communities. The members savings are used to help those who need loans. I know there are those who don't wish to encourage borrowing but it is better to lend people money at a sensible interest rate they can afford to pay back rather than just rely on charity.
This is particularly true, since the crash and the introduction of austerity measures people are finding it hard to cope. The banks which caused the disaster will only help those who don't need any help!
This way everyone is some sort of winner. There is a danger that if they get too big they become like banks with lots of paid employees and no local community.
Ketts cover some of the most deprived parts of Norwich, in terms of the Deprivation Index 16 out of the 25 most deprived parts of Norwich are covered by Ketts. For more information about credit unions see the ABCUL website, http://www.abcul.org/home. There was also an article in the Guardian money page this weekend.
I have tried to use adsense for my blogs, this is not to make me money but to try to help build up capital for Ketts, so please spread the word.
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