Cornish Credit Unions

Posted: January 16, 2009 in cornish credit unions, economics, localism

In these times of financial crisis I’ve been interested in the Credit Union phenomena as supported by Plaid Cymru. Indeed Plaid run their own Credit Union called Undeb Credyd Plaid Cymru. So when a member of the Transition Cornwall Network provided me with the link to the Association of Cornish Credit Unions I was happily surprised.

Now I don’t know anything about them but the wiki link above should provide a good starting point for anyone wanting to research Credit Unions and if the ACU turn out to be a safe bet, which I have a feeling they are, then perhaps Cornish folk should consider investing some of their cash in the local economy in this way.

From the site:

A credit union is a not for profit, democratically run financial co-operative which offers convenient savings and low interest loans to its members. The credit union is run by volunteers and is managed and owned by the members. The three main aims of a credit union are:

1) To encourage its members to save regularly.

2) To provide loans to members at low rates of interest.

3) To provide members with help and support on managing their financial affairs (if required).

Perhaps I’m just dreaming but I still think it would be good to see the Stannary involved in something financially concrete like this that helps Cornish communities.


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