Financial inclusion report praised by ABCUL

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<div class="rxbodyfield" xmlns:o="urn:www.microsoft.com/office" xmlns:st1="urn:www.microsoft.com/smarttags" xmlns:st2="urn:www.microsoft.com/smarttags2" xmlns:w="urn:www.microsoft.com/word" xmlns:x="urn:www.microsoft.com/excel"><p>The Association of British Credit Unions Ltd (ABCUL) has welcomed the Treasury select committee&#39;s report on financial inclusion, which it believes will strengthen the credit union movement and bring affordable credit and safe savings to more people.</p><p>In particular, ABCUL praised the Treasury&#39;s recognition of the important role that credit unions play in providing increasingly affordable credit. The proposals also call for a reorganisation and investment into the infrastructure and IT services within credit unions.</p><p>Chief executive officer of ABCUL, Mark Lyonette, said: &quot;Credit unions around the country are working hard to make more loans available to many people who would otherwise face extortionate interest charges from doorstep lenders. </p><p>&quot;Extra support for IT infrastructure and improving lending practices, recommended by the committee, will greatly enhance their ability to make a success of the extra funding.&quot;</p><p>The report also welcomed the increasing professionalism of the sector and called on credit unions and the government to do more to improve the financial cooperatives&#39; ability to grow and attract capital. </p><p>Mr Lyonette welcomed this insight, saying: &quot;I&#39;m delighted that [the increased professionalism] has been recognised by the report which also contains some excellent recommendations for how the sector can grow and strengthen.</p><p>&quot;Credit unions play a vital role in many communities, providing affordable credit and safe savings for over half a million people; a figure which has more than doubled in the past four years,&quot; he added.</p><p>Sometimes a personal loan is a good choice, perhaps you want to consolidate your credit cards or buy a new car. Whatever your needs, let uSwitch.com help you find one to suit. We&#39;re impartial and comprehensive and won&#39;t charge you for using our service. Compare <a href="http://www.uswitch.com/Loans/PersonalLoans.aspx?">personal loans and apply online.</p><p><a href="http://www.adfero.co.uk" target="_blank"><img alt="track" src="http://feeds.directnews.co.uk/feedtrack/dn.gif?feedid=362&amp;itemid=17972131" style="border:0 0 0" />&#169; Adfero Ltd</a></a></p></div>