Department for Work and Pensions: Credit Unions

Department for Work and Pensions written question – answered on 2nd November 2015.

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Photo of Gareth Thomas Gareth Thomas Party Chair, Co-operative Party

To ask the Secretary of State for Work and Pensions, what steps he is taking to promote the use of credit unions in the work of his Department; and if he will make a statement.

Photo of Justin Tomlinson Justin Tomlinson Parliamentary Under-Secretary of State (Department for Work and Pensions) (Disabled People)

Government believes it is essential that everyone has access to affordable, good-quality financial products and that credit unions have a role in providing this vital service.

DWP awarded a £38m contract to the Association of British Credit Unions Limited to deliver an expansion project to enable participating credit unions to modernise, expand their services and provide affordable credit to more consumers.

DWP have also publicised the work of credit unions, encouraged DWP staff to join their local credit unions, and have ensured that benefit or pension payments can be paid into any credit union account.

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