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UK Government Policy, Credit Unions, and Payday Loans

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  • Bill Lee
  • John Brierley

Abstract

This article outlines how successive UK governments’ policies first created a three-tier system of credit unions and then posited credit unions as alternatives to payday lenders. The three-tier framework is used for an analysis of loans offered on credit union websites. The findings indicate that while the first two tiers of credit unions now offer loans to people who have not saved with them previously, they do so in ways consistent with credit unions’ original character, rather than in ways that replicate commercial payday loans. The other tier of credit unions appears unable to offer such loans.

Suggested Citation

  • Bill Lee & John Brierley, 2017. "UK Government Policy, Credit Unions, and Payday Loans," International Journal of Public Administration, Taylor & Francis Journals, vol. 40(4), pages 348-360, March.
    • Handle: RePEc:taf:lpadxx:v:40:y:2017:i:4:p:348-360
    DOI: 10.1080/01900692.2015.1113549
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    Cited by:

    1. Pål M Vik & Joanna Curtis & Karl T Dayson, 2023. "The impact of COVID-19 on UK community finance institutions – Implications for local economic development," Local Economy, London South Bank University, vol. 38(5), pages 423-442, August.
    2. Lee, Bill & Carlisle, Liam, 2024. "Interpreting an escape from an eviction trap as a social account: A Gramscian reading of a credit union’s policies in support of social housing tenants," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 98(C).

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