Bishops support credit union

The Bishop of Oxford at Oxford Credit Union
The Bishop of Oxford at Oxford Credit Union

The Bishop of Oxford has urged Christians and churches to support their local credit union.

The Rt Revd John Pritchard was one of three local bishops who signed on the dotted line last Thursday to show their support for credit unions.

Bishop John, Alan Wilson, the Bishop of Buckingham, and Colin Fletcher, the Bishop of Dorchester, will be putting their money where their mouths are by investing in the Oxford Credit Union as part of an awareness-raising campaign led by Archbishop of Canterbury Justin Welby.

The archbishop is urging churches and individual Christians to invest in, borrow from and volunteer to help credit unions in a bid to seeing them grow and be able to help more people.

Credit Unions offer low interest loans, savings schemes and other financial services in the towns and cities where they are based, and are often able to help local people who cannot get a high street bank account or loan.

Bishop John said: “Credit unions are a positive and ethical alternative to payday lenders.

“I hope more people will turn to them for short-term loans rather than end up in a debilitating cycle of debt by borrowing from loan sharks.

“I would urge churches and Christians to invest in, to volunteer for and help publicise their credit union.”

The Milton Keynes Credit Union, which serves Buckingham and Winslow, is in discussion with churches in the local area. Contact Diane Butler on 07443 926683.