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  • Budget 2017: Credit Unions recognised as part of ‘Modern Banking Services’

    Wednesday, November 22, 2017

    Leeds Credit Union is very pleased that the Government has recognised the importance of credit unions in the provision of modern banking services.

    The Treasury has announced an increase in the number of potential members that a credit union may serve from 2 million to 3 million.

    Chris Smyth, Chief Executive, of Leeds Credit Union said “Leeds Credit Union has actively lobbied the Government for an increase in this limit and we are very pleased that the Minister has supported this change”

    “By extending the number of potential members that a large credit union like Leeds Credit Union can serve helps the credit union to provide affordable credit to even more people”.

    “The Budget announcement is yet another recognition by the Government that Credit Unions are an important part of delivering modern banking services in the UK”.

    “The increase in this limit is also important as it paves the way for a large credit union like Leeds Credit Union to be able to deliver services at scale across a regional area such as the whole of West Yorkshire”.