Financial inclusion (6)

Meeting: 
MQT on 2018-05-17
Session date: 
May 17, 2018
Reference: 
2018/1190
Question By: 
Andrew Dismore
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Further to your response to the Economy Committee's report 'Short changed- the financial health of Londoners', what discussions have you had with credit unions in London to promote the awareness and take-up of affordable credit products and debt advice services in London?

Answer

Answer for Financial inclusion (6)

Answer for Financial inclusion (6)

Answered By: 
The Mayor

I am a long-time supporter of the credit union movement, I believe that they offer an important finance alternative, and have demonstrated how important their services can be for people on low incomes, or who struggle to manage their financial health. It is for these reasons I have made clear that my Good Work Standard will promote credit unions to the employees of the businesses who sign up. My officers have met with representatives of credit unions to inform the development of the Standard.