Co-operative and Community Benefit Societies (Environmentally Sustainable Investment) Bill

Part of the debate – in the House of Commons at 12:22 pm on 11th September 2020.

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Photo of Kevin Hollinrake Kevin Hollinrake Conservative, Thirsk and Malton 12:22 pm, 11th September 2020

My hon. Friend is putting forward a good case for credit unions. Is he aware that credit unions in the UK have collective assets of around £4 billion, compared with mutual banks and co-operatives in the United States that have £4.7 trillion—a thousand times as much? We need to invest more in credit unions and co-operatives and make it easier for them to establish and grow in the UK. Does my hon. Friend agree with that sentiment?