17 November 2006
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Original content:
<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'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'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: "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>"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."</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' ability to grow and attract capital. </p><p>Mr Lyonette welcomed this insight, saying: "I'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>"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," 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're impartial and comprehensive and won'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&itemid=17972131" style="border:0 0 0" />© Adfero Ltd</a></a></p></div>