Move your money – credit union calls for better banking for Hackney residents

London Community Credit Union in Hackney

New members join up to the London Community Credit Union in Hackney. Photograph:LCCU

The London Community Credit Union is set to hold an open day in Hackney this week as part of the launch of its new ‘Credit Champions’ project.

The ‘Better Banking Open Day’ will take place at the LCCU’s branch on Mare Street on Saturday 6 October, and will promote the work of the credit union and encourage people to join and become members.

The open day will include refreshments, special offers and demos, along with speakers on the credit union movement, how credit unions work and their important role in local communities.

“We welcome the opportunity to share the story of the rich history and the strong community ethic of credit unions, and open the door for new members into this fast growing community,” said Colin Eddy, Chief Executive of LCCU.

LCCU will also launch their new ‘Credit Champions’ project, based in Tower Hamlets, which hopes to extend the reach of credit unions further into workplaces and communities. Adam Farrell, Co-ordinator of the project, called it “an excellent way for residents to get more involved” in the credit Union’s work.

‘Credit Champions’ is set to include training, ‘Pop-Up Bank’ tours, and the chance to work with a community based organisation. Mr Farrell said: “We hope residents will take the opportunity of the Launch Event to find out more about the project and get involved.”

Saturday’s event will be jointly hosted by the Move Your Money UK campaign, which encourages people to move their cash from the ‘big 5’ banks to ethical banks, building societies and credit unions.

Move Your Money co-founder Danielle Paffard said they were “delighted” to be working with LCCU to “promote the excellent work of the Credit Unions,” and said she hopes they will “inspire more customers, frustrated with the misdeeds of the big banks, to vote with their feet for something better.”

“As account holders, we are the building blocks of the banking sector,” said Ms Paffard. “If we want a banking sector that puts the needs of customers, the economy and wider society before a quick buck for bankers, we have the power to make it happen. Money talks when it walks.”

The LCCU is a not for profit financial co-operative “owned by and run for the benefit of its members.” It has been running for 10 years and says it has around 14,000 members.

Better Banking in Action: A Credit Union Open Day
Saturday 6 October 2012 (speakers 12 noon – 1pm)
London Community Credit Union, Hackney Branch
225 Mare Street
E8 3QE.