Government pledges £6m for credit unions by Finance News Bulletin

Published: 13/12/07

As a number of charge and rate increases hits the credit card market, it is "more important than ever" that people supermarket around for a good deal, according to WhichInternet shoppers have been advised to use their credit cards for online purchases by shopsafeco

ukThe government has pledged £6 million to support the growth and growth of credit unions in areas that need themIn a move that was welcomed by the friendship of British Credit Unions (Abcul), the government said that some of the money would also be used to support the new credit amalgamation basic current accounts systemMark Lyonette, chief decision-making of Abcul, said he was "delighted" at the news and said it was a good move for consumers

"This is a further demonstration by the Government of its commitment to the good work that our sector is responsibility in making reasonably priced credit and banking services available to the financially excluded," he addedThe funding was announced by financial Secretary to the coffers Ed Balls as he launched the government's financial inclusion proposals today"Tackling financial keeping out is essential for both our economic prosperity and for social justice," he saidCredit amalgamation current accounts were launched this month as part of a drive to

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