Joining a Credit Union

Meeting: 
MQT on 2014-03-19
Session date: 
March 19, 2014
Reference: 
2014/1364
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

In response to my oral question 2014/0572 about joining your local credit union you responded "I have no objection whatever to joining whatever. I do not mind. I must be impartial in this matter. If I have to join one, I have to join all of them. I cannot have favouritism here." As explained in my subsequent letter to you, in order to join a credit union you must meet its 'common bond' criteria which in most cases require a member to live in one of the local boroughs a credit union serves. Membership of the London Capital Credit Union is open to those who live or work in the London boroughs of Islington, Barnet, Camden, Hackney, Haringey or the City. As an Islington resident you would therefore be eligible to join the London Capital Credit Union. Numerous elected representatives across the political spectrum have joined their local credit union in order to promote the financial services they offer. For the Mayor of London to also join a credit union would provide a much-needed boost to the sector. Can you now commit to joining your local credit union?

Answer

Answer for Joining a Credit Union

Answer for Joining a Credit Union

Answered By: 
The Mayor

I have asked officials to look into the role of Credit Unions in London.