Labour Liverpool pledges £1 million for credit union
Great news from Liverpool, one of the first members of the Co-operative Councils Network, where the Council Leader and Labour’s candidate for Mayor Joe Anderson announced £1 million for a city-wide credit union to help people avoid using loan sharks.
In his Joe for Liverpool manifesto, Cllr Anderson pledges that “I will set up a city wide Credit Union to provide loans to hard pressed families who, because of a lack of credit, are forced to take out loans with extortionate interest rates.National banks have stopped lending to small businesses, so I will work with our Credit Unions to provide much needed loans to develop the local economy.”
Liverpool’s major investment in credit unions will be a welcome step forward for the movement. Alongside the strong co-operative policies in Labour manifestos for May’s elections we are seeing around the country, from Plymouth to Edinburgh, and the many Labour & Co-operative candidates standing, Labour Liverpool continues to be a beacon for co-operation.