Avoiding sub-prime lenders

Avoiding sup-prime lenders: credit unions and their diversification

Abstract

Considering the increased role for social policy since 1997 in the areas of financial inclusion and the financial crises of Farepak and Northern Rock, this paper explores the role of credit unions in provision of financial services. Drawing upon recent research in Wales, the authors explore the different routes to diversification developed by Welsh credit unions to help financially excluded individuals avoid use of sub-prime lenders. This analysis of credit union development highlights the lessons to be learnt from each strand of diversification before considering the implications of these findings on the wider, UK, credit union movement.

This article can be found in Research, Policy and Planning (2008) 26 (2) pp. 123-134 with potential access here

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