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Credit Union


The question of how people can struggle out of poverty using their own means and skills is answered partly through credit unions. These are a kind of saving bank that allows its members to save and borrow money. Its members might normally be refused loans by banks and otherwise have to resort to borrowing from very high interest private loan companies.

To find out more about how they run you can visit the websites below. The clips below are of an interview by Langdon Park School students researching how the school might get involved with the local Credit Union.

Click a link to view a clip:
What is a Credit Union?

When will it happen at Langdon Park School?

Will it help us and how?

Who is mainly involved?

Will it be a lot of hassle?

How will it work?

Another business is the Fair Finance at 47 Ben Jonson Road, Stepney, London E1 4SA. This gives personal loans and micro-credit loans to businesses. Micro-credit is a major financial way of helping the world’s poor.

Website for Tower Hamlets Credit Union www.thccu.co.uk

Borough webpage explaining credit unions http://www.towerhamlets.gov.uk

Fair Finance website: http://www.fairfinance.org.uk/

Find out about the role of micro-credit in helping to tackle poverty around the world:

Watch videos and read more about micro credit from the United Nations, including an online course: