A MOTION to back credit unions has been tabled for Thursday’s DDC council meeting by two Labour members.
Cllrs Wendy Randall and Maureen Luke want the Conservative-led council to promote credit unions and other community-based affordable credit schemes; to lobby the Government to introduce caps on total lending rates charged for providing credit; and lobby for councils to be given the power to veto licences for high street credit agencies where their presence could have a ‘negative economic or social impact on communities’.
Daventry already has a credit union set up to help people who find it hard to get affordable loans from banks, and to provide an alternative to the high interest rates of payday lenders and the risks of using loan sharks. It also helps customers budget and improve their finances
DDC already promotes it with a banner in its reception area, which is shares with the Jobcentre Plus too.