Credit Chaos or Credit Unions

May 20, 2010 · Greater London, United Kingdom

2009 has been a devastating year for financial markets and our banking system globally. Banking and finance is at the centre of our future but is it able to cope. What changes are needed to ensure that our financial institutions can reward sustainability and alleviate poverty? This are some of the central questions that we discussed in 21st Century Network in our meeting in April. Now in May, we also want to look at alternatives to our conventional financial system and in this meetup we want to discuss the importance and future of Credit Unions.In the present environment where trust in our Banks and finance system is at an all time low, then is there now a future for credit unions – organisations that are set up with communities and run by local communities? How successful are they and how do we find out about them? How important are they in the battle against debt and poverty? Do they have a future as a major player in the world of finance? Speaking at this meeting will be John Fowler who is the Manager of Kent Savers Credit Union. John has been involved in the public and voluntary sector for most of his life and has worked for CSV, the Commonwealth Secretariat, The Princes Trust and Surestart. Both as a project worker and a Manager he has a deep knowledge of the voluntary sector and also of the needs of vulnerable communities. He sees credit unions as an important way of helping those communities. However Credit Unions can be important for everyone and provides a credit system and is democratically accountable and secure. John will also be joined by Peter Bussey (ABCUL Business Development Manager - London). ABCUL is the main trade association for credit unions in Britain. They provide a wide range of services to their members including information, representation and training. As a democratic membership organisation, ABCUL is registered as an Industrial and Provident Society and is controlled by a Board of Directors elected by their member credit unions.

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