Credit Unions in Britain: A Time for Change

Posted: 13 Jul 2003

See all articles by Donal G. McKillop

Donal G. McKillop

Queen's University Management School

John O. S. Wilson

University of St. Andrews

Abstract

As member-owned, not-for-profit financial institutions, credit unions are an important instrument of public policy, particularly in pushing forward measures to tackle financial and social exclusion. Historically, the credit union movement in Great Britain has been hampered by a number of factors, including a lack of leadership, a cohesive identity and regulatory impediments. Recent legislative review and change has provided credit unions with the opportunity to grow and extend the scale and scope of services they can offer to their members. However, policy-makers should be aware that funding initiatives to support credit union development might undermine their self-help cornerstone and weaken the future development of the movement.

Suggested Citation

McKillop, Donal G. and Wilson, John O. S., Credit Unions in Britain: A Time for Change. Public Money & Management, Vol. 23, pp. 119-124, April 2003. Available at SSRN: https://ssrn.com/abstract=416840

Donal G. McKillop (Contact Author)

Queen's University Management School ( email )

25 University Square
Belfast, Northern Ireland BT7 1NN
Northern Ireland

John O. S. Wilson

University of St. Andrews ( email )

North St
Saint Andrews, Fife KY16 9AJ
United Kingdom

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