Credit Unions Thrive in the UK
24 July 2006
excerpt from Southern Highland News
A familiar face around the Southern Highlands community, BDCU Alliances Manager Ross Stone, has recently returned from a study tour of credit unions in the UK.
Organised with assistance from the Association of British Credit Unions based in Manchester, Mr Stone visited a number of credit unions and said he was pleasantly surprised at how well Australian credit unions compared.
Credit unions are gaining popularity in a number of countries across the world, including Australia, where customers are disenfranchised by the high fees and poor service offered by major banks.
Mr Stone was impressed by the close alliances between local government and British credit unions. In some boroughs, credit unions are regarded as an integral part of providing social and community services, such as housing.
British credit unions also work closely with hospitals, schools and the volunteer sector.
