Tag Archives: Credit Unions

CUF Plan germinates!


Dear David,

Thank you for your continued support of the Mustard Seed Appeal and the Just Finance Foundation. We wanted to update you on some significant pieces of news as we work towards fairer finance.

First step towards fairer credit as Wonga goes into administration

The announcement that high cost credit provider Wonga has gone into administration is a sign that the Just Finance Foundation’s work is having a real impact. The rates charged by Wonga for their loans have been one of the criticisms of the Archbishop of Canterbury, Justin Welby, who wants to see a fairer credit landscape for all. In 2013 he announced the church would compete Wonga out of business by supporting more ethical credit unions.

Canon Paul Hackwood, Executive Director of Church Urban Fund and Trustee of the Just Finance Foundation says:

‘Today we are seeing the result of the much-needed tougher financial regulations starting to bite. The Just Finance Foundation (JFF) – the Archbishop’s charity focused on fostering a fair financial system – is working to promote financial health, of many struggling with debt right across the social spectrum, and particularly among those for whom making ends meet is a daily struggle.’

Read the full article in yesterdays (30/08/2018) Guardian  here

What comes after Welby’s War on Wonga

Just a few weeks before ago, Rowena Young, Executive Director for the Just Finance Foundation (JFF), outlined the plans for how the JFF might help to increase our nation’s financial capability.

Read her article in the Church Times here

This extract came from an email from:

Church Urban Fund

Church House, 27 Great Smith Street, Westminster, London, SW1P 3AZ

End of post

The Actress, The Bishop and …Credit Unions!

I’ve just watched the short version well worth 3 minutes of anyone’s time! (will check out the longer one later)

Do please pass this on to anyone else who might be interested

Regards, Ann

If you think that any of our SRN colleagues might be interested please could you forward this on to them.

Hot from the premier!!

14 min version: http://youtu.be/hwGfeOsAw1I

3 min version: http://youtu.be/Te6h4aM4cKI

Kind regards, Debbie

Deborah Dalby

Head of Mission and Ministry

Tel: 07435 971910

Mission and Ministry Department

Church House, 90 Deansgate, Manchester M3 2GH

Email: DebDalby@manchester.anglican.org

Review: Humanising Work

Could you please circulate the details of the book below to the network?

Many thanks Malcolm

Chris Beales: Humanising Work: Co-operatives, credit unions and the challenge of mass unemployment

Rainmaker Books, published 1 October 2014. ISBN 978-1-909863-02-6

E-book £2.49 Paperback £5.99  Available from Amazon, Kobo etc and on www.rainmakerbooks.co.uk

Does the search for meaning in work matter? and is it even possible to ask such a question against a backdrop of mass youth unemployment, widespread poverty and growing inequality? Drawing on the experience of the Mondragon co-operative movement in Spain and other innovative models of employment and enterprise from around the world, as well as the visions and values derived from his faith, Chris Beales explores how “work” might be humanised and education and employment made not only responsive to what the Economy needs but also purposeful, satisfying and rewarding for people.

Promoting Responsible Credit and Saving July 2014 Newsletter

Promoting Responsible Credit and Saving July 2014 Newsletter

Murston ‘Community Bank’

A recently retired couple with banking experience, a generous gift from a local builder and the prayers and determination of a small congregation have been the key ingredients in the launch of Murston Community Bank.

In June Westminster Abbey hosted a celebration of 50 years of credit unions in Great Britain

And more

Promoting responsible credit and saving: July newsletter

Promoting Responsible Credit and Saving

July 2014 Newsletter

This edition includes:

  • Murston ‘Community Bank’
  • In a recent speech to the Credit Union Foundation Archbishop Justin Welby reflected on the Church’s activity to support credit unions
  • In June Westminster Abbey hosted a celebration of 50-years of credit unions in Great Britain.
  • 70 people gathered in Birmingham to hear about the work of the Archbishop’s Task Group and the Church Credit Champions Network,
  • Payday Lending; Fixing a Broken Market is a new report from The Association of Certified Chartered Accountants
  • The Financial Conduct Authority has recently issued new regulations for the consumer credit market
  • ‘We need a union of the streets’ is a song and music video produced by Charles Bailey and featuring rapper Question Musiq.

Responsible Credit and Savings newsletter – May 2014

Promoting Responsible Credit and Saving

May Newsletter

Welcome to our bi-monthly email newsletter on the Archbishop of Canterbury’s initiative to promote credit unions and other sources of responsible credit and savings.

This month we feature the work that Manchester Diocese is doing to promote and support their local credit unions, as well as highlighting national and local news news and events, including a new campaign from the Children’s Society and the London launch of the Church Credit Champions Network.
Please let us know what is happening in your area and how we can support you.

To hear more stories of exciting initiatives around the country and to hear Sir Hector Sants talk about the work of the Task Group, register to come along to our free workshop event in Birmingham on Tuesday 3rd June.

Polly Taylor
Task Group Coordinator

Focus on Manchester

The Bishop and the Actress is the headline grabbing title of a short film promoting credit unions, developed by Manchester Diocese and produced by a young local film maker. A local Bishop and an actress take a bus journey around Greater Manchester visiting local credit unions and exploring the reasons why people become credit union members. The film will be launched later this year alongside a tool kit to help churches and other organisations engage with their local credit union.

Read More

New report from IPPR
Jumping the Shark: Building institutions to spread access to affordable credit

This report sets out a comprehensive strategy for ending the ‘poverty premium’ faced by many consumers who have no alternative to borrowing from payday lenders.
Launch of the Church Credit Champions Network
27th May, St Martin in the Fields, London
The Church Credit Champions Network is a pilot project in the Dioceses of Southwark, London and Liverpool which aims to connect churches with their local credit union. It will do this by training and resourcing a network of ‘Credit Champions’ who will be the main link between the church congregation and the credit union.
The Debt Trap
The Debt Trap is a new campaign from the Children’s Society about the impact of debt on the lives of children. The campaign was launched with a report from StepChange and The Children’s Society The Debt Trap: Exposing the impact of problem debt on children.
Music video launch
Music producer Charles Bailey and rapper Question Musiq, in partnership with the Church of England, are producing a song and video, aimed at young people, about the dangers of payday loans. The video will be launched in early June.
See the next newsletter for a link to the video.
3rd June 2014, Birmingham
Promoting Responsible Credit
Hear from Sir Hector Sants on the Archbishop’s Task Group and share exciting new initiatives and ideas for promoting responsible credit and savings in your area.
We want to hear from as many areas as possible so please come along if you can and share the date with others.
Support from high street banks
Barclays and Lloyds have both recently demonstrated their support for the credit union sector:
Barclays has committed £1m and promised to provide space in branches and the help of expert staff to local communities and credit unions.
Lloyds has pledged £4m over 4 years as part of their commitment to financial inclusion.
To subscribe to this newsletter please contact polly.taylor@churchofengland.org