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Giving Credit where it's Due: Promoting Financial Inclusion through Quality Credit Unions

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  • Paul A. Jones

    (Liverpool John Moores University, UK)

Abstract

Early in 2005, HM Treasury established a Financial Inclusion Task Fund to support initiatives to tackle financial exclusion. It envisages that a substantial proportion of this funding will be allocated to third sector lenders such as credit unions operating in low-income areas. During the 1980s and early 1990s, public investment in credit unions was misdirected. This resulted in community credit unions remaining small and having only marginal impact within financially excluded communities. Since 1999, significant transformation has taken place in the credit union sector, which has resulted in credit unions developing as market-oriented and commercial social enterprises with a capacity to tackle financial exclusion both imaginatively and effectively at a borough wide, city-wide and sometimes county wide level.

Suggested Citation

  • Paul A. Jones, 2006. "Giving Credit where it's Due: Promoting Financial Inclusion through Quality Credit Unions," Local Economy, London South Bank University, vol. 21(1), pages 36-48, February.
    • Handle: RePEc:sae:loceco:v:21:y:2006:i:1:p:36-48
    DOI: 10.1080/02690940500504814
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    References listed on IDEAS

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    1. Tito Boeri & Pietro Garibaldi, 2005. "Shadow Sorting," NBER Chapters, in: NBER International Seminar on Macroeconomics 2005, pages 125-163, National Bureau of Economic Research, Inc.
    2. Donal G. McKillop & John O. S. Wilson, 2003. "Credit Unions in Britain: A Time for Change," Public Money & Management, Taylor & Francis Journals, vol. 23(2), pages 119-124, April.
    3. Unknown, 2005. "Forward," 2005 Conference: Slovenia in the EU - Challenges for Agriculture, Food Science and Rural Affairs, November 10-11, 2005, Moravske Toplice, Slovenia 183804, Slovenian Association of Agricultural Economists (DAES).
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    Cited by:

    1. Nathanael OJONG, 2014. "Credit Unions As Conduits For Microfinance Delivery In Cameroon," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 85(2), pages 287-304, June.

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