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1122539

	registered interest
	date	23/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the effect of discontinuities in credit union capital requirements on credit unions' capacity to grow assets beyond £10 million; and if he will make a statement.
	tabling member constituency	Glasgow South West
	tabling member printed	Chris Stephens
	uin	246542
	answer	answer is ministerial correction date of answer 29/04/2019 answer text <p>Representatives from credit unions have raised issues with me related to capital requirements, most recently when I spoke at the Association of British Credit Unions Ltd (ABCUL) conference in March 2019. Capital requirements for credit unions are set by the Prudential Regulation Authority (PRA), in line with their mandate to promote the safety and soundness of firms.</p><p> </p><p>The PRA is independent from government and is responsible for ensuring the credit union sector is effectively regulated and financially stable.</p><p> </p><p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector. Credit union membership and assets continue to grow, with membership passing 2 million for the first time in 2018 and total assets growing to over £3.3 billion.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 246543 246544 question first answered 29/04/2019 14:19:31 answering member 4051 label Biography information for John Glen
	tabling member	4463 label Biography information for Chris Stephens

1122540

	registered interest
	date	23/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what representations he has received on changing credit union capital requirements; and if he will make a statement.
	tabling member constituency	Glasgow South West
	tabling member printed	Chris Stephens
	uin	246543
	answer	answer is ministerial correction date of answer 29/04/2019 answer text <p>Representatives from credit unions have raised issues with me related to capital requirements, most recently when I spoke at the Association of British Credit Unions Ltd (ABCUL) conference in March 2019. Capital requirements for credit unions are set by the Prudential Regulation Authority (PRA), in line with their mandate to promote the safety and soundness of firms.</p><p> </p><p>The PRA is independent from government and is responsible for ensuring the credit union sector is effectively regulated and financially stable.</p><p> </p><p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector. Credit union membership and assets continue to grow, with membership passing 2 million for the first time in 2018 and total assets growing to over £3.3 billion.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 246542 246544 question first answered 29/04/2019 14:19:31 answering member 4051 label Biography information for John Glen
	tabling member	4463 label Biography information for Chris Stephens

1122542

	registered interest
	date	23/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what plans he has to change credit union capital requirements to support credit unions to grow assets beyond £10 million; and if he will make a statement.
	tabling member constituency	Glasgow South West
	tabling member printed	Chris Stephens
	uin	246544
	answer	answer is ministerial correction date of answer 29/04/2019 answer text <p>Representatives from credit unions have raised issues with me related to capital requirements, most recently when I spoke at the Association of British Credit Unions Ltd (ABCUL) conference in March 2019. Capital requirements for credit unions are set by the Prudential Regulation Authority (PRA), in line with their mandate to promote the safety and soundness of firms.</p><p> </p><p>The PRA is independent from government and is responsible for ensuring the credit union sector is effectively regulated and financially stable.</p><p> </p><p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector. Credit union membership and assets continue to grow, with membership passing 2 million for the first time in 2018 and total assets growing to over £3.3 billion.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 246542 246543 question first answered 29/04/2019 14:19:31 answering member 4051 label Biography information for John Glen
	tabling member	4463 label Biography information for Chris Stephens

1082539

	registered interest
	date	06/03/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what support his Department is providing to Credit Unions to improve their governance policies.
	tabling member constituency	Glasgow East
	tabling member printed	David Linden
	uin	229202
	answer	answer is ministerial correction date of answer 11/03/2019 answer text <p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector.</p><p> </p><p>At Autumn Budget 2018, the Chancellor announced a two-year pilot of a new prize-linked savings scheme offered through credit unions. This will support the credit union sector through increased membership, awareness and deposits, as well as encouraging participants to build up savings to help them cope with financial shocks. The Chancellor also announced a new £2 million challenge fund to promote innovative solutions from the UK’s Fintech sector to address challenges faced by social and community lenders, including credit unions.</p><p> </p><p>This Government believes improving governance in the sector is best led by the sector itself, and supports ABCUL’s work in this regard.</p> answering member constituency Salisbury answering member printed John Glen question first answered 11/03/2019 14:19:08 answering member 4051 label Biography information for John Glen
	tabling member	4640 label Biography information for David Linden

1059769

	registered interest
	date	12/02/2019
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, how many credit unions have been involved in the Credit Union Expansion Project; and in which region do they operate.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	220111
	answer	answer is ministerial correction date of answer 18/02/2019 answer text <p>Over 70 Credit Unions benefited from the Credit Union Expansion Project with products such as an Automated Lending and Decision System. These credit unions operated across England, Wales and Scotland. The Credit Union Expansion Project did not include credit unions in Northern Ireland as the aim of the project was to drive up membership of GB credit unions from a very low base. Across GB less than 1% of the population were members of a credit union at the outset of the project. The situation in Northern Ireland is different with over 26% of the population being members of credit unions. The Minister for Pensions and Financial Inclusion met with representatives of Northern Ireland credit unions on the 20 July 2018 in Belfast.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 18/02/2019 17:45:45 answering member 4142 label Biography information for Guy Opperman
	tabling member	1409 label Biography information for Mr Gregory Campbell

1047834

	registered interest
	date	24/01/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Unions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what support they give to credit unions.
	tabling member printed	Baroness Kennedy of Cradley
	uin	HL13112
	answer	answer is ministerial correction date of answer 06/02/2019 answer text <p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector.</p><p> </p><p>At Autumn Budget 2018, the Chancellor announced a two-year pilot of a new prize-linked savings scheme offered through credit unions. This will support the credit union sector through increased membership, awareness and deposits, as well as encouraging participants to build up savings to help them cope with financial shocks.</p><p> </p>The Chancellor also announced a new £2 million challenge fund to promote innovative solutions from the UK’s Fintech sector to address challenges faced by social and community lenders, including credit unions. This follows the success of last year’s Rent Recognition Challenge, where Government backing has supported UK Fintechs to successfully develop and roll out digital solutions for incorporating rental data into credit scores. answering member printed Lord Bates question first answered 06/02/2019 12:52:02 answering member 1091 label Biography information for Lord Bates
	tabling member	4303 label Biography information for Baroness Kennedy of Cradley

1036905

	registered interest
	date	07/01/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Unions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what steps they are taking to support and enable the growth of credit unions.
	tabling member printed	Lord Myners
	uin	HL12547
	answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector.</p><p> </p><p>At Autumn Budget 2018, the Chancellor announced a two-year pilot of a new prize-linked savings scheme offered through credit unions. This will support the credit union sector through increased membership, awareness and deposits, as well as encouraging participants to build up savings to help them cope with financial shocks.</p><p> </p><p>The Chancellor also announced a new £2 million challenge fund to promote innovative solutions from the UK’s Fintech sector to address challenges faced by social and community lenders, including credit unions. This follows the success of last year’s Rent Recognition Challenge, where UK Fintechs were invited to develop digital solutions for incorporating rental data into credit scores.</p> answering member printed Lord Bates question first answered 21/01/2019 15:38:44 answering member 1091 label Biography information for Lord Bates
	tabling member	3869 label Biography information for Lord Myners

1023107

	registered interest
	date	11/12/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	What further steps he plans to take to support credit unions.
	tabling member constituency	Harrow West
	tabling member printed	Gareth Thomas
	uin	908141
	answer	answer is ministerial correction date of answer 11/12/2018 answer text <p>The government remains committed to supporting credit unions, which provide vital services to local communities.</p><p> </p><p>At Autumn Budget 2018, the Chancellor announced a package of measures to support the social and community lending sector, including credit unions.</p><p> </p><p>This includes a prize-linked savings scheme for credit unions, simplifying regulation to make it easier for Registered Social Landlords to refer to credit unions, and a challenge fund to create technological solutions for credit unions and Community Development Finance Institutions.</p> answering member constituency Salisbury answering member printed John Glen question first answered 11/12/2018 17:04:01 answering member 4051 label Biography information for John Glen
	tabling member	177 label Biography information for Gareth Thomas

991171

	registered interest
	date	19/10/2018
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what assessment she has made of the effectiveness of the credit union expansion project.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	181556
	answer	answer is ministerial correction date of answer 24/10/2018 answer text <p>Government is committed to facilitating sustainable financial services that give consumers greater choice in accessing credit. Credit union membership in Great Britain has increased year-on-year since 2014, rising to around 1.32 million members in 2017; this was an increase of over 150,000 individuals over the 3 year period. It is even more encouraging that credit unions are becoming more popular with junior members; in 2017 there were over 139,000 junior members of credit unions in Great Britain compared to around 128,000 in 2014.</p><p> </p><p>The Credit Union Expansion Project (CUEP) aims were for participating credit unions to modernise and grow in a financially sustainable way, over time. The contractor aimed to deliver that by enabling credit unions to access a standardised banking service.</p><p>CUEP has delivered an Automated Loans and Decision tool (ALD) used by over 70 credit unions, centralised services such as a standardised front facing website, and that the ALD has allowed credit unions to achieve up to 40% administrative savings on delivering loans and reduce provision for unpaid debt by over £1 million. CUEP also led to a number of credit unions to merge, and others to work together to develop standardised products and deliver local marketing campaigns to increase membership. CUEP contributed to credit unions on the platform to increase the value of loans made.</p><p>Due to the Contractors failure to meet contractual milestones, DWP terminated the CUEP contract on 16<sup>th</sup> February 2018. Whilst the contractor has not met their contractual agreement, they have delivered a banking platform that allows credit union members to receive a range of banking services and benefit from more affordable credit. At the point the contract was terminated the platform was being used by three credit unions with a total of approximately 16.5k members allowing members to benefit from 24 hour online access to their accounts, and receive faster payments on a loan on the same day, usually within 4 hours.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 24/10/2018 15:11:56 answering member 4142 label Biography information for Guy Opperman
	tabling member	1409 label Biography information for Mr Gregory Campbell

923130

	registered interest
	date	13/06/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Unions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans, if any, they have to review the legislation covering credit unions.
	tabling member printed	Lord Kennedy of Southwark
	uin	HL8594
	answer	answer is ministerial correction date of answer 27/06/2018 answer text <p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector.</p><p> </p><p>Government engages closely with representatives of the credit union sector throughout the UK to understand how credit unions may best be supported. This includes speaking to Northern Ireland specific trade bodies and maintaining an ongoing relationship with the devolved Department for Economy in Northern Ireland to understand any issues specific to Northern Ireland’s credit union sector.</p><p>Government’s engagement with the credit union sector includes ongoing consideration of its legislative framework. For example, in 2014 Government conducted a Call for Evidence (‘British Credit Unions at 50’) on credit unions. Several respondents asked for changes to the legislation governing credit unions, and in its response, Government committed to actively consider legislative changes in the next Parliament. At Autumn Budget 2017, Government committed to raising the geographical common bond limit for credit unions from 2 to 3 million. This change came into effect in April 2018.</p><p>All changes to credit union legislation must be considered alongside the need to maintain an appropriate regulatory regime for credit unions. A looser legislative framework would likely require increased regulation which might be inappropriate for small, community based institutions.</p> answering member printed Lord Bates grouped question UIN HL8595 question first answered 27/06/2018 14:03:17 answering member 1091 label Biography information for Lord Bates
	tabling member	4153 label Biography information for Lord Kennedy of Southwark

904830

	registered interest
	date	15/05/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what recent steps his Department has taken to improve and promote access to credit unions.
	tabling member constituency	Bolton North East
	tabling member printed	Sir David Crausby
	uin	144185
	answer	answer is ministerial correction date of answer 23/05/2018 answer text <p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector. To improve access to credit unions, government has:</p><p>· In April 2018, announced increased funding for a scheme which incentivises credit union membership in areas at risk of being targeted by loan sharks. This will help vulnerable people to borrow and save with a safe and responsible financial provider, and promote credit unions as an alternative source of credit.</p><p>· At Autumn Budget 2017, announced that the credit union ‘common bond’ limit, which applies to credit unions whose membership is based around a local area, would be raised from 2 to 3 million. This change came into force in April this year, and will allow the larger credit unions to expand and help the sector to consolidate.</p><p>· In 2014, raised the statutory cap on the total interest a credit union can charge on loans from 2 to 3% per month. This has allowed credit unions to expand into new markets, and compete more effectively with other lenders.</p> answering member constituency Salisbury answering member printed John Glen question first answered 23/05/2018 15:36:15 answering member 4051 label Biography information for John Glen
	tabling member	437 label Biography information for Sir David Crausby

867103

	registered interest
	date	19/03/2018
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what assessment he has made of the outcome of the Credit Union Expansion Project.
	tabling member constituency	Brentford and Isleworth
	tabling member printed	Ruth Cadbury
	uin	133221
	answer	answer is ministerial correction date of answer 27/03/2018 answer text <p>The contractor for the Credit Union Expansion Project (CUEP) facilitated access to a standardised banking service. This banking platform allows credit union members to receive a range of banking services and benefit from more affordable credit. The platform is currently used by three credit unions with a total of approximately 16.5k members and allows these members to benefit from 24 hour online access to their accounts, and receive faster payments on a loan on the same day, usually within 4 hours.</p><p> </p><p>CUEP led to a number of credit unions to merge, and others to work together to develop standardised products and deliver local marketing campaigns to increase membership. CUEP also contributed to credit unions on the platform to increase the amount and value of loans made.</p><p>CUEP ended on 16 February 2018 and it is too early to say what effect it had on the credit union sector. It should be noted that the credit union sector has grown over the lifetime of CUEP. As of January 2018, credit unions in Great Britain serve over 1.1 million adult members and have total assets of £1.5 billion and £815m in loans.</p><p>The project will undertake an evaluation as part of the project closure.</p> answering member constituency Hexham answering member printed Guy Opperman grouped question UIN 133223 question first answered 27/03/2018 12:48:52 answering member 4142 label Biography information for Guy Opperman
	tabling member	4389 label Biography information for Ruth Cadbury

867104

	registered interest
	date	19/03/2018
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what plans he has to publish the accounts of the Credit Union Expansion Project.
	tabling member constituency	Brentford and Isleworth
	tabling member printed	Ruth Cadbury
	uin	133222
	answer	answer is ministerial correction date of answer 27/03/2018 answer text <p>DWP engaged a contractor to deliver the Credit Union Expansion Project (CUEP). It is the responsibility of the contractor to include any disclosure relating to the project within their accounts.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 27/03/2018 12:56:03 answering member 4142 label Biography information for Guy Opperman
	tabling member	4389 label Biography information for Ruth Cadbury

867105

	registered interest
	date	19/03/2018
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what effect the Credit Union Expansion Project had on access to finance for people who are financially excluded.
	tabling member constituency	Brentford and Isleworth
	tabling member printed	Ruth Cadbury
	uin	133223
	answer	answer is ministerial correction date of answer 27/03/2018 answer text <p>The contractor for the Credit Union Expansion Project (CUEP) facilitated access to a standardised banking service. This banking platform allows credit union members to receive a range of banking services and benefit from more affordable credit. The platform is currently used by three credit unions with a total of approximately 16.5k members and allows these members to benefit from 24 hour online access to their accounts, and receive faster payments on a loan on the same day, usually within 4 hours.</p><p> </p><p>CUEP led to a number of credit unions to merge, and others to work together to develop standardised products and deliver local marketing campaigns to increase membership. CUEP also contributed to credit unions on the platform to increase the amount and value of loans made.</p><p>CUEP ended on 16 February 2018 and it is too early to say what effect it had on the credit union sector. It should be noted that the credit union sector has grown over the lifetime of CUEP. As of January 2018, credit unions in Great Britain serve over 1.1 million adult members and have total assets of £1.5 billion and £815m in loans.</p><p>The project will undertake an evaluation as part of the project closure.</p> answering member constituency Hexham answering member printed Guy Opperman grouped question UIN 133221 question first answered 27/03/2018 12:48:52 answering member 4142 label Biography information for Guy Opperman
	tabling member	4389 label Biography information for Ruth Cadbury

861044

	registered interest
	date	13/03/2018
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, for what reasons the Credit Union Expansion Project has been closed; and if she will make a statement.
	tabling member constituency	Hove
	tabling member printed	Peter Kyle
	uin	132193
	answer	answer is ministerial correction date of answer 16/03/2018 answer text <p>The DWP engaged a contractor to deliver Credit Union Expansion Project. The contractor repeatedly failed to meet its obligations. This left them in breach of contract and left the DWP with no alternative but to terminate the contract.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 16/03/2018 11:26:46 answering member 4142 label Biography information for Guy Opperman
	tabling member	4505 label Biography information for Peter Kyle

850981

	registered interest
	date	27/02/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will make an assessment of the effectiveness of credit union legislation; and if he will make a statement.
	tabling member constituency	Harrow West
	tabling member printed	Gareth Thomas
	uin	130182
	answer	answer is ministerial correction date of answer 05/03/2018 answer text <p>Government engages closely with representatives of the credit union sector to understand how credit unions may best be supported, including ongoing consideration of their legislative framework.</p><p> </p><p>For example, in 2014 Government conducted a Call for Evidence (‘British Credit Unions at 50’) on credit unions. Several respondents asked for changes to the legislation governing credit unions, and in its response, Government committed to actively consider legislative changes in the next Parliament. At Autumn Budget 2017, Government committed to raising the geographical common bond limit for credit unions from 2 to 3 million. This change will come into effect from April 2018.</p><p> </p><p>All changes to credit union legislation must be considered alongside the need to maintain an appropriate regulatory regime for credit unions. A looser legislative framework would likely require increased regulation which might be inappropriate for small, community based institutions.</p> answering member constituency Salisbury answering member printed John Glen question first answered 05/03/2018 15:52:32 answering member 4051 label Biography information for John Glen
	tabling member	177 label Biography information for Gareth Thomas

847862

	registered interest
	date	23/02/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what action have they taken to support credit unions in the last two years.
	tabling member printed	Lord Kennedy of Southwark
	uin	HL5839
	answer	answer is ministerial correction date of answer 06/03/2018 answer text <p>The government is committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector. Over the last two financial years, the government has done this by:</p><p> </p><ul><li><p>Announcing at Autumn Budget 2017, that where a credit union’s membership conditions are based on locality, a credit union will be able to increase the number of potential members it can have to from 2 to 3 million. The legislation to make this change was laid in November 2017 and comes into force in April 2018.</p></li><li><p>Announcing at Autumn Statement 2016 that, from 2018, an existing scheme which incentivises credit union membership in communities at risk of being targeted by loan sharks, will be expanded. This uses funds recovered under the Proceeds of Crime Act from convicted loan sharks.</p></li><li><p>Contributing £600,000 to an initiative developed by the Archbishop of Canterbury and Young Enterprise, to start savings clubs in primary schools and educate young children in the benefits of saving. Lifesavers works with local credit unions to help run savings clubs with schoolchildren, and is currently being piloted in six primary schools.</p></li><li><p>Providing funding for the Credit Union Expansion Project, delivered by the Association of British Credit Unions Ltd, with an aim to modernise and grow the sector. Over the past year, credit unions with a total membership of 16,500 have begun using an online banking platform provided by this project.</p></li></ul> answering member printed Lord Bates question first answered 06/03/2018 13:05:44 answering member 1091 label Biography information for Lord Bates
	tabling member	4153 label Biography information for Lord Kennedy of Southwark

839096

	registered interest
	date	08/02/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what support he offers to Credit Unions; and what steps his Department is taking to encourage their use.
	tabling member constituency	Ogmore
	tabling member printed	Chris Elmore
	uin	127655
	answer	answer is ministerial correction date of answer 20/02/2018 answer text <p>The government is committed to supporting credit unions, which provide vital services to financially underserved communities and contribute to the diversity of the UK’s financial services sector. The government has done this by:</p><p> </p><ul><li><p>Announcing at Autumn Budget 2017, that where a credit union’s membership conditions are based on locality, a credit union will be able to increase the number of potential members it can have from 2 to 3 million.</p><p> </p></li><li><p>Announcing at Autumn Statement 2016 that, from 2018, a scheme which incentivises credit union membership in communities at risk of being targeted by loan sharks, will be expanded. This uses funds recovered under the Proceeds of Crime Act from convicted loan sharks.</p><p> </p></li><li><p>Contributing £600,000 to an initiative developed by the Archbishop of Canterbury and Young Enterprise, to start savings clubs in primary schools and educate young children in the benefits of saving. Lifesavers works with local credit unions to help run savings clubs in schools.</p></li></ul> answering member constituency Salisbury answering member printed John Glen question first answered 20/02/2018 12:12:26 answering member 4051 label Biography information for John Glen
	tabling member	4572 label Biography information for Chris Elmore

810007

	registered interest
	date	20/12/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assistance they have given to credit unions in the UK in the last two financial years.
	tabling member printed	Lord Elystan-Morgan
	uin	HL4353
	answer	answer is ministerial correction date of answer 08/01/2018 answer text <p>The government is committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector. Over the last two financial years, the government has done this by:</p><p> </p><ul><li><p>Announcing at Autumn Budget 2017, that where a credit union’s membership conditions are based on locality, a credit union will be able to increase the number of potential members it can have to from 2 to 3 million. The legislation to make this change was laid in November 2017 and comes into force in April 2018.</p></li><li><p>Announcing at Autumn Statement 2016 that, from 2018, an existing scheme which incentivises credit union membership in communities at risk of being targeted by loan sharks, will be expanded. This uses funds recovered under the Proceeds of Crime Act from convicted loan sharks.</p></li><li><p>Contributing £600,000 to an initiative developed by the Archbishop of Canterbury and Young Enterprise, to start savings clubs in primary schools and educate young children in the benefits of saving. Lifesavers works with local credit unions to help run savings clubs with schoolchildren, and is currently being piloted in six primary schools.</p></li><li><p>Providing funding for the Credit Union Expansion Project, delivered by the Association of British Credit Unions Ltd. In 2017, three credit unions with a total membership of 16,500 began using an online banking platform provided by this project.</p></li></ul> answering member printed Lord Bates question first answered 08/01/2018 16:32:28 answering member 1091 label Biography information for Lord Bates
	tabling member	2809 label Biography information for Lord Elystan-Morgan

798690

	registered interest
	date	01/12/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what plans he has to support access to credit unions; and if he will make a statement.
	tabling member constituency	Harrow West
	tabling member printed	Gareth Thomas
	uin	117084
	answer	answer is ministerial correction date of answer 06/12/2017 answer text <p>The government is committed to supporting access to credit unions, which provide vital services to financially underserved communities and contribute to the diversity of the UK’s financial services sector. The government has done this by:</p><p> </p><ul><li><p>Announcing at Autumn Budget 2017, that where a credit union’s membership conditions are based on locality, a credit union will be able to increase the number of potential members it can have from 2 to 3 million.</p></li><li><p>Contributing £600,000 to an initiative developed by the Archbishop of Canterbury and Young Enterprise, to start savings clubs in primary schools and educate young children in the benefits of saving. Lifesavers works with local credit unions to help run savings clubs in schools.</p></li><li><p>Contracting the Association of British Credit Unions Limited to deliver the Credit Union Expansion Project, which aims to modernise and grow credit unions in a sustainable way, enabling them to offer additional financial services to their members.</p></li><li><p>Announcing at Autumn Statement 2016 that, from 2018, a scheme which incentivises credit union membership in communities at risk of being targeted by loan sharks, will be expanded. This uses funds recovered under the Proceeds of Crime Act from convicted loan sharks.</p></li></ul> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 06/12/2017 17:08:21 answering member 4095 label Biography information for Steve Barclay
	tabling member	177 label Biography information for Gareth Thomas

797877

	registered interest
	date	30/11/2017
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, if he will make a further review of the credit union expansion project to examine the possibility of additional changes that would allow credit unions to offer additional financial services.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	116784
	answer	answer is ministerial correction date of answer 05/12/2017 answer text <p>The Association of British Credit Unions (ABCUL) is delivering the Credit Union Expansion Project. Three credit unions are using the banking platform delivered through CUEP though none have signed off to business as usual. There is no plan to make changes to the contract.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 05/12/2017 14:00:20 answering member 4142 label Biography information for Guy Opperman
	tabling member	1409 label Biography information for Mr Gregory Campbell

780352

	registered interest
	date	30/10/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they have any plans to expand the scope of products that credit unions can choose to provide to their members.
	tabling member printed	Baroness Primarolo
	uin	HL2716
	answer	answer is ministerial correction date of answer 07/11/2017 answer text <p>The Government is committed to building an economy that works for everyone and credit unions play a key role in this by offering affordable, responsible credit to some communities.</p><p> </p><p>In response to the Government’s 2014 Call for Evidence on the future of credit unions, the Government committed to consider potential legislative changes in the previous Parliament that would help the sector grow and thrive.</p><p>However, it is important to consider any changes carefully to avoid unintended consequences, such as bringing smaller credit unions into regulation that might not be proportionate.</p><p>The Government remains committed to supporting the sector and will continue to work with interested stakeholders to achieve this. The government is also keen for the sector to look for further opportunities to grow within the existing regulatory framework by exploring opportunities for collaboration within the sector.</p> answering member printed Lord Bates question first answered 07/11/2017 16:19:56 answering member 1091 label Biography information for Lord Bates
	tabling member	217 label Biography information for Baroness Primarolo

765975

	registered interest
	date	06/10/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what his policy is on the promotion of credit unions as an alternative to pay day lenders.
	tabling member constituency	East Renfrewshire
	tabling member printed	Paul Masterton
	uin	105873
	answer	answer is ministerial correction date of answer 16/10/2017 answer text <p>Credit unions play a key role in offering affordable, responsible credit to underserved communities. The Government has supported the sector in the following ways:</p><p> </p><ul><li><p>Announcing at Autumn Statement 2016 that a greater proportion of funds recovered from illegal money lenders will be allocated to incentivise vulnerable people to join, save and borrow with a credit union instead of turning to loan sharks;</p></li><li><p>Increasing the maximum interest rate that credit unions can charge on loans from 2% to 3%. This has helped credit unions become more stable and allowed them to offer reliable, affordable credit to consumers who may otherwise have had to resort to more expensive means;</p></li><li><p>Contributing £600,000 to an initiative developed by the Archbishop of Canterbury and Young Enterprise, to start savings clubs in primary schools and educate young children in the benefits of saving, while promoting awareness of credit unions to children and their parents. Lifesavers works with local credit unions to help run savings clubs in schools; and</p></li><li><p>Initiating the Credit Union Expansion Project, a £38 million project aimed at helping the sector modernise and offer new services.</p></li></ul> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 16/10/2017 11:05:05 answering member 4095 label Biography information for Steve Barclay
	tabling member	4625 label Biography information for Paul Masterton

673444

	registered interest
	date	16/01/2017
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, pursuant to the Answer of 12 January 2017 to Question 58730, on credit unions, what steps he plans to take to complete the expansion project for credit unions; how the £38 million will be allocated; and over what time period that allocation will take place.
	tabling member constituency	Bolton North East
	tabling member printed	Sir David Crausby
	uin	59997
	answer	answer is ministerial correction date of answer 23/01/2017 answer text <p>The Contract to deliver the Credit Union Expansion Project was scheduled to end in December 2016. The Association of British Credit Unions Ltd (ABCUL) are delivering the Contract and has provided a proposal to extend the delivery timeline. To allow the proposal to be considered the Department has agreed an interim Contract extension to February 2017.</p><p> </p><p>To the end of December 2016, £30.8.m has been spent. Any remaining expenditure is subject to agreement on ABCUL’s proposal to extend the Contract and delivery of specific outcomes.</p> answering member constituency Watford answering member printed Richard Harrington question first answered 23/01/2017 14:54:45 answering member 4068 label Biography information for Lord Harrington of Watford
	tabling member	437 label Biography information for Sir David Crausby

668868

	registered interest
	date	06/01/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how the Government plans to improve and promote access to credit unions.
	tabling member constituency	Bolton North East
	tabling member printed	Sir David Crausby
	uin	58730
	answer	answer is ministerial correction date of answer 11/01/2017 answer text <p>The Government’s manifesto commits to support the credit union movement in making financial services more accessible over the course of this Parliament. The Government has supported the sector in the following ways:</p><p> </p><ul><li><p>Investing up to £38 million in an expansion project for credit unions, aimed at helping credit unions expand and grow sustainably.</p></li><li><p>The Government announced at AS16 that a greater proportion of funds recovered from illegal money lenders will be allocated to incentivise vulnerable people to join, save and borrow with a credit union instead of turning to loan sharks.</p></li><li><p>The Coalition Government also increased the maximum interest rate that credit unions can charge on loans from 2% to 3%. This has helped credit unions become more stable.</p><p> </p><p>The Government will continue to look at ways it can help support the sector.</p></li></ul> answering member constituency Brighton, Kemptown answering member printed Simon Kirby question first answered 11/01/2017 10:37:39 answering member 3929 label Biography information for Simon Kirby
	tabling member	437 label Biography information for Sir David Crausby

647622

	registered interest
	date	29/11/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, with reference to paragraph 3.45 of the Autumn Statement 2016, if he will publish details on the working of the expansion of the scheme to encourage credit union membership in areas at risk from loan sharks.
	tabling member constituency	Kingston upon Hull North
	tabling member printed	Diana Johnson
	uin	55479
	answer	answer is ministerial correction date of answer 07/12/2016 answer text <p>The Government is committed to facilitating sustainable financial services that give consumers greater choice in accessing credit. To help achieve this aim, the Government has fundamentally reformed regulation of the consumer credit market, transferring regulatory responsibility from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) on 1 April 2014. The FCA has transposed key elements of the OFT’s Irresponsible Lending Guidance into binding rules. The FCA makes clear that a firm should lend responsibly, and takes reasonable steps to assess the customer’s ability to meet repayments in a sustainable manner without undue difficulties, and without having to borrow further. Ultimately, money should only be lent to a consumer if they can afford to repay it.</p><p> </p><p>Furthermore, the Government has already introduced several initiatives to support the credit union sector. These include investing £38m in the sector through the Department of Work and Pensions’ Credit Union Expansion Project, and providing £500,000 to help armed forces personnel access credit union services.</p><p> </p><p>The scheme referred to at paragraph 3.45 of the Autumn Statement 2016 is undertaken by the England Illegal Money Lending Team. The Team recovers funds from convicted loan sharks under the Proceeds of Crime Act (POCA) and currently uses this to fund community education work and a credit union incentive scheme in areas which are vulnerable to loan sharks. The scheme provides cash incentives for new credit union accounts into which consumers make regular savings.</p><p> </p><p>In 2018, governance of the Team, and control of how it uses funds recovered under POCA, will transfer to HM Treasury. In April 2017, the Financial Conduct Authority will introduce a new levy collected from consumer credit firms which will fund the Team’s enforcement and education work. This will make it possible to free-up POCA funds currently used for education about loan sharks to expand the credit union scheme.</p><p> </p> answering member constituency Brighton, Kemptown answering member printed Simon Kirby question first answered 07/12/2016 11:17:53 answering member 3929 label Biography information for Simon Kirby
	tabling member	1533 label Biography information for Dame Diana Johnson

480076

	registered interest
	date	17/03/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what plans they have to review the legislation governing credit unions.
	tabling member printed	Lord Kennedy of Southwark
	uin	HL7178
	answer	answer is ministerial correction date of answer 01/04/2016 answer text <p>On 31 December 2014, the government published a response to the Call for Evidence on Credit Unions.</p><p> </p><p>In this response the government committed to considering the potential changes to credit union legislation highlighted by the Call for Evidence over the course of this parliament.</p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 01/04/2016 12:37:33 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	4153 label Biography information for Lord Kennedy of Southwark

445447

	registered interest
	date	18/01/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps he is taking to help credit unions compete in the personal loans and savings market.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	22923
	answer	answer is ministerial correction date of answer 21/01/2016 answer text <p>The Government has taken significant steps to help credit unions compete in the personal loans and savings market. These include increasing the maximum interest rate that credit unions can charge on loans from 2% to 3% per month; investing £38m in the sector through the Department of Work and Pensions’ (DWP) Credit Union Expansion Project; ensuring that universal credit and pensions payments can be paid into any credit union account; providing £500,000 to help armed forces personnel access credit union services; and changing legislation to allow credit unions to admit corporate members.</p><br /><p>The Government has also provided £650,000 to fund the Archbishop of Canterbury’s ‘LifeSavers’ project. This project forms partnerships between primary schools and local credit unions, raising awareness of the credit union movement and encouraging more junior savers to become members.</p><br /><p>In addition the Government has also introduced an amendment to the Bank of England Bill 2015 to support financial mutuals. It amends the Financial Conduct Authority and the Prudential Regulation Authority’s General Regulatory Principles to ensure that both regulators take account of the differences between mutual societies and other types of firm (where appropriate) whenever they are discharging their general objectives.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 21/01/2016 12:23:42 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1409 label Biography information for Mr Gregory Campbell

443171

	registered interest
	date	07/01/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many credit unions were subject to intervention by the Financial Services Compensation Scheme in 2014 and 2015.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	21538
	answer	answer is ministerial correction date of answer 12/01/2016 answer text <p>The Financial Services Compensation Scheme regularly publishes details of the interventions it has undertaken to protect depositors. The Scheme announced that it had protected the savings of members in five credit unions which entered default in 2014; and six in 2015.</p><br /> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 12/01/2016 15:20:34 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1409 label Biography information for Mr Gregory Campbell

424865

	registered interest
	date	29/10/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps the Government is taking encourage the Prudential Regulation Authority to assist credit unions in expanding the services they offer to their members; and if he will make a statement.
	tabling member constituency	Harrow West
	tabling member printed	Gareth Thomas
	uin	14104
	answer	answer is ministerial correction date of answer 04/11/2015 answer text <p>The Prudential Regulation Authority (PRA) is responsible for the prudential regulation and supervision of credit unions. It has a general objective to promote the safety and soundness of the firms it regulates and a secondary objective to facilitate effective competition.</p><br /><p>The PRA is an independent non-governmental body and, although the Treasury sets the legal framework for all regulation, it has strictly limited powers in relation to the regulators. However, last year the Government asked the PRA to use the evidence gathered from the Government’s Call for Evidence on Credit Unions to inform their 2015 review of the Credit Union Sourcebook (CREDS).</p><br /><p>The PRA have confirmed that they have taken into account the feedback received by HM Treasury in response to the Call for Evidence when formulating suggested reforms to CREDS.</p><br /><p>The PRA’s reforms seek to establish a more risk-based and flexible framework for credit union regulation, which imposes higher expectations for more sophisticated activity. The PRA recognises the unique structure and important role credit unions play in their local communities and is proposing to reform the rules to better reflect their evolving but distinctive business model.</p><br /><p>The PRA are looking to adjust the regulation so that rules around investments, capital levels and reporting requirements will be determined by looking at the risk profile and business model of the credit union. Existing rigid restrictions will be removed, giving credit union boards more freedom to decide how their businesses are to be run.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 04/11/2015 12:57:34 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	177 label Biography information for Gareth Thomas

420943

	registered interest
	date	13/10/2015
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what assessment has been made of the effectiveness of the Government's credit union expansion programme; and what assessment he has made of the feasibility of extending that programme.
	tabling member constituency	Worcester
	tabling member printed	Mr Robin Walker
	uin	11604
	answer	answer is ministerial correction date of answer 19/10/2015 answer text <p>DWP’s contract with the Association of British Credit Unions Ltd to deliver the Credit Union Expansion Project began in May 2013. It <del class="ministerial">was</del><ins class="ministerial">is</ins> due to end in April 201<del class="ministerial">5</del><strong><ins class="ministerial">6</ins></strong> but we are currently considering a request for a<ins class="ministerial">n</ins> <del class="ministerial">further</del> extension. The Department has plans to review effectiveness at the end of the Project.</p><br /> answering member constituency North Swindon answering member printed Justin Tomlinson question first answered 19/10/2015 13:14:22 question first ministerially corrected 21/10/2015 16:31:59 answering member 4105 label Biography information for Justin Tomlinson previous answer version 24060 answering member constituency North Swindon answering member printed Justin Tomlinson answering member 4105 label Biography information for Justin Tomlinson
	tabling member	4091 label Biography information for Mr Robin Walker

172711

	registered interest
	date	08/01/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Unions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what consideration they have given to changing the Common Bond of geographical credit unions from potential to actual members.
	tabling member printed	Lord Kennedy of Southwark
	uin	HL4031
	answer	answer is ministerial correction date of answer 22/01/2015 answer text <p>On 31 December 2014 the government published a response to the Call for Evidence on Credit Unions. In this response the government committed to considering potential changes to credit union legislation, including to the Common Bond, in the next parliament.</p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 22/01/2015 16:53:12 answering member 4262 label Biography information for Lord Deighton
	tabling member	4153 label Biography information for Lord Kennedy of Southwark

147447

	registered interest
	date	10/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will take steps to encourage saving through credit unions as a means of preventing poverty and payday loans.
	tabling member constituency	Belfast North
	tabling member printed	Mr Nigel Dodds
	uin	214140
	answer	answer is ministerial correction date of answer 20/11/2014 answer text <p>The Government is supportive of credit unions and has taken a number of steps to assist them, most recently including:</p><p> </p><ul><li><p>Investing up to £38 million in an expansion project for credit unions, aimed at helping credit unions expand and grow sustainably</p></li></ul><p> </p><ul><li>Issuing a Call for Evidence on credit unions, to which the Government will respond shortly.</li><li>Removing unnecessary restrictions on credit unions via the Legislative Reform Order that came into effect in January 2012.</li><li>These measures will help increase the capability of the credit union sector allowing it to become a viable option for financial services provision for an even wider range of consumers.</li></ul><p> </p><p> </p><p> </p><p>The Government is concerned about consumer detriment in the payday market and believes the FCA’s new, more robust regulatory system will help to improve protections for consumers who still choose to use pay day lenders.</p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 20/11/2014 17:49:06 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1388 label Biography information for Lord Dodds of Duncairn

58587

	registered interest
	date	05/06/2014
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Credit Unions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what is their assessment of the progress of the Credit Union Expansion Project.
	tabling member printed	Lord Kennedy of Southwark
	uin	HL112
	answer	answer is ministerial correction date of answer 10/06/2014 answer text <p /> <p>The DWP Credit Union Expansion Project contract began in May 2013. Around 80 credit unions are currently participating in the project. ABCUL has started delivering the Automated Loan and decision tool to participating credit unions and feedback is that the tool is ensuring loan decisions are faster, consistent and more efficient to deliver. Procurement of an IT banking platform is also being progressed but much remains to be done particularly on achieving sufficient growth for Credit Unions, and DWP continue to support and monitor the project closely</p> answering member printed Lord Freud question first answered 10/06/2014 13:43:31 answering member 3893 label Biography information for Lord Freud
	tabling member	4153 label Biography information for Lord Kennedy of Southwark

57952

	registered interest
	date	04/06/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of (a) the number of members of credit unions and (b) their total savings in each (i) region of the UK and (ii) London borough in (A) 2010-11, (B) 2011-12, (C) 2012-13 and (D) 2013-14; and if he will make a statement.
	tabling member constituency	Harrow West
	tabling member printed	Mr Gareth Thomas
	uin	199108
	answer	answer is ministerial correction date of answer 11/06/2014 answer text <p>The Government does not hold information on the numbers of credit union members or their total savings or lending by region. The data is held by the Prudential Regulation Authority and the Financial Conduct Authority.</p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 199109 199110 question first answered 11/06/2014 15:41:54 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	177 label Biography information for Gareth Thomas

57953

	registered interest
	date	04/06/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many people were members of a credit union in each (a) region of England and (b) each borough of London in (i) 2011-12, (ii) 2012-13 and (iii) 2013-14; and if he will make a statement.
	tabling member constituency	Harrow West
	tabling member printed	Mr Gareth Thomas
	uin	199109
	answer	answer is ministerial correction date of answer 11/06/2014 answer text <p>The Government does not hold information on the numbers of credit union members or their total savings or lending by region. The data is held by the Prudential Regulation Authority and the Financial Conduct Authority.</p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 199108 199110 question first answered 11/06/2014 15:41:55 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	177 label Biography information for Gareth Thomas