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Five distinct models of community finance now operate in
the UK: credit unions, community loan funds, micro-finance
funds, mutual guarantee societies, and social banks. These
models serve directly or indirectly around half a million
people and have assets of over £400 million.
The number of community finance initiatives in the UK
has risen fourfold over the last five years. Community finance
initiatives use a variety of non-conventional ways of delivering
financial services that reduce risks and operational costs
and avoid recourse to above market rates. They have, in
general, a good record on default and financial sustainability.
In contrast, many public sector led funds offering 'soft'
(subsidized) loans have performed poorly.
Press
The Evening Standard (London)
NEW CHARGES
AT CASHPOINTS
Jonathan Prynn
December 21, 2004
UK bank customers are facing a
huge increase in cash machine fees. Thousands of free bank
ATMs are to be sold off to companies that charge up to £1.75
a transaction. Consumers already pay an estimated £140million
a year to use the cash machine network, a figure that is
now expected to soar. The National Consumer Council (NCC)
also said that the fees are becoming a new tax on the poor.
Financial Times (London, England)
Brown set
to encourage poor to open accounts LOW-INCOME BANKING
Jane Croft
November 29, 2004
UK banks expect the government
to say it wants the industry to reduce the number of people
without basic bank accounts, improve the provision of free
advice to consumers, and give them access to affordable
credit. The banks no longer expect the government to set
them individual quotas on how many basic bank accounts they
must open. Two million households in Britain do not have
access to basic banking services.
Liverpool John Moores University
Creating
wealth in the West Midlands through sustainable credit unions
An Action Research Project
Paul Jones
UNCORRECTED TRANSCRIPT OF ORAL EVIDENCE
House of COMMONS
MINUTES
OF EVIDENCE TAKEN BEFORE TREASURY COMMITTEE
CASH MACHINE CHARGES
10 FEBRUARY 2005 .
The Evening Standard (London)
British
households without bank accounts
February 10, 2005
Findings
Informing Change
February 2005
Department for International Development
The Importance
of Financial Sector Development for Growth and Poverty Reduction
August 2004
Independent on Sunday (London)
MONEY: IT'S
TIME LENDERS DID WHAT IT SAYS ON THE TIN
November 14, 2004
Financial Times (London, England)
New code
forces banks to be more transparent on standards of practice
JANE CROFT
November 12, 2004
London Free Press (Ontario, Canada)
'WE DON'T
SELL JUNK'; PAWN SHOPS ARE THRIVING IN LONDON, MAKING A
LIVING OFF THE WORKING POOR WHILE TRYING TO SHED THEIR 'DINGY'
IMAGE.
MELANIE CHAMBERS
November 8, 2004
Financial Times (London, England)
Companies
take the higher-risk route: CREDIT CARDS: Isabel Berwick
says people on low incomes will be targeted
ISABEL BERWICK
November 6, 2004
SUNDAY TELEGRAPH (LONDON, UNITED KINGDOM)
Bank on
a new code of conduct High street banks have been stung
by criticism and are determined to be kind to their customers.
Will it work? Teresa Hunter reports
Teresa Hunter
November 07, 2004
THE DAILY TELEGRAPH(LONDON)
No more
nice people - it's time to look at the murky world of the
money-lenders
Christopher Fildes
November 01, 2004
THE DAILY TELEGRAPH(LONDON)
Treasury
in talks on banking for all
Nina Montagu-Smith
October 20, 2004
Datamonitor CommentWire
Basic bank
accounts: targeting the unbanked;
The UK Treasury plans to set targets for banks on signing
up customers to basic bank accounts.
October 19, 2004
The Guardian (London)
Bank row
looms over basic account target
Jill Treanor
October 19, 2004
Legislation
Banking law
Contact
Regulatory contact:
The Financial Services Authority
25 North Colonnade, Canary Wharf, London E14 5HS
Tel +(44) 171 676 1000
Fax + (44) 171 676 1099
Web www.fsa.gov.uk
NGO contact:
Niall Cooper
Church Action on Poverty
Central Building, Oldham Street
Manchester M1 1JT
UK
http://www.church-poverty.org.uk
niallc@church-poverty.org.uk
44-0161-236-9321 (off. tel)
44-061-237-5359 (off. fax)
Damon Gibbons
Chairman
Debt on Our Doorstep
c/o Church Action on Poverty
Central Building, Oldham Street
Mancester M1 1JT
UK
http://www.debt-on-our-doorstep.com
damon.gibbons@btinternet.com
44-0161-236-9321 (off. tel)
44-061-237-5359 (off. fax)
Wyndham Conniff
8 Pentonville, New port,
South Wales,
NP205 XH, UK
Wyndham.Conniff@gavowales.org.uk
44-16332-13229 (office)
44-1291423013 (home)
Whitni Thomas
New Economics Foundation/NEF
3 Jonathan St.
London SE11 5NH - UK
whitni_thomas@neweconomics.org
tel: +44 (0)20 7820 6365
http://www.neweconomics.org/
David Randolph-Horn
Associate Director
Leed Church Institute
20 New Market Street
Leeds LS1 6DG
United Kingdom
Tel: 0113 245 4700
Fax: 0113 391 7939
e-mail:davidhorn@leedschurchinstitute.org
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