Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed grouped question UIN question first answered question first ministerially corrected answering member label previous answer version answering member constituency answering member printed answering member label
tabling member	label

Search

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

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

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

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

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

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

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

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

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

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