I would like to congratulate Labour councillor Alan Schneiderman for his Bill encouraging the development of credit unions in Barnet.
The three existing credit unions share his vision of providing every person in Barnet with the opportunity of becoming a credit union member. With 26 per cent of households having no access to even a basic bank account, many Barnet residents are financially excluded from services most people take for granted.
Credit unions are ethical, democratic savings and loan co-operatives run by and for their members. Savers benefit from dividends and free life insurance, while borrowers benefit from a low interest rate of just one per cent a month on a reducing balance. Anyone interested in finding out more can call me on 020 8883 4916.
Martin O'Donnell
Director, Finchley Credit Union
Green Man Community Centre, Strawberry Vale
July 2, 2002 14:00
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