Get involved: send your pictures, video, news & views by texting st albans to 80360, or email us
Bishop of St Albans, Dr Alan Smith, shows support for St Albans District Credit Union team
3:20pm Wednesday 11th September 2013 in News
The Bishop of St Albans, Dr Alan Smith has visited and shown his support to the St Albans District Credit Union team at their Hatfield Road office.
Chairman Colin Metcalfe and the team briefed the Bishop and emphasised that the Credit Union was far from being a "poor man’s bank".
He said: "The Credit Union encourages savers and offers low cost loans to all its members - perhaps for a significant household project such as an efficient gas boiler.
"Other less well-off members, or those with impaired credit status, might otherwise be forced to borrow smaller amounts from one of the many high cost lenders on the doorstep or through the internet. "
The Bishop confirmed his strong support for Credit Unions and he suggested the diocese might use its large parish network to publicise the availability of Credit Unions to parishioners and the wider community.
He felt parishes may also be able to boost the numbers of committed volunteers to run credit unions and perhaps to use its service. He was told parishioners could use the Credit Union for loans of up to £5,000 rather than rely on higher cost credit cards.
This would help credit unions financially and would counterbalance more "risky" loans to those less well-off, and keep them clear of high cost lenders.
Before leaving, the Bishop confirmed his personal support for St Albans District Credit Union by becoming a member and promising encouragement for others to "sign on".
Comments are closed on this article.