This is a guest blog by Danni Paffard, one of the fabulous people at Move Your Money – the campaign for people to switch accounts from dirty banks to more ethical or community finance institutions.
As scandal after scandal blows up in the papers, and the behaviour of our big banks goes from bad to worse, it’s easy to get despondent about the state of our banking system and the colour of our money.
Fortunately, it doesn’t have to be this way. There exist financial institutions that will look after your money, reinvest it responsibly, and support the economy and society we would like to see.
One such option are the Credit Unions. Little know in the UK, Credit Union are well established across much of the rest of the world, including America and Ireland.
As not-for-profit financial cooperatives, with a mandate to support their members and grounded locally, they represent a genuine people-focused alternative to the big banks and have a long history in the struggles for economic and social justice.
Better Banking in Action: A Credit Union Open Day
London Community Credit Union, Hackney Branch, 225 Mare Street, E8 3QE
Date: Saturday 6th October, Speakers 12.00-13.00*
Refreshments provided. ID needed to become a member.
This is an opportunity for anybody interested in the alternative local banking sector to find out more. An exciting line-up of speakers will guide you through the history of the Credit Union movement, how Credit Unions work, and the important role they play in the community, especially in the current climate.
LCCU will also be launching it’s groundbreaking ‘Credit Champions’ project, working to bring the Credit Union further into the local community and workplaces. Followed by tea and cake.
While politicians and regulators fail to come up with the goods, we can take action to make banking better. Since January 2012, Move Your Money estimates that 50,000 people have joined the Credit Union network, taking membership to over one million.
If you live in Tower Hamlets, Hackney, or any of the surrounding boroughs, invite your friends, bring your family, and we’ll see you there.
Money talks when it walks. It’s time to change banks.
* The Credit Union will be open from 10:00 – 14:00 with live product demos and the opportunity to open a new account. Anybody living, working or studying in Tower Hamlets, Hackney, City of London, Islington, Haringey or Newham can become a member and open an account. Please bring proof of address and a piece of ID.