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<p>I can confirm that DWP has contracted directly with the Association of British
Credit Unions Limited (ABCUL) for the delivery of the Credit Union Expansion Project
(CUEP). ABCUL’s subsidiary Cornerstone Mutual Services (CMS) contracts individually
with each Credit Union agreeing specific financial terms and incentives. DWP does
not hold statistics on funds that have been allocated to each Credit Union as this
forms part of the commercial agreement between CMS and the Credit Unions. It should
be noted that the bulk of the CUEP funding has been invested in the development of
a shared infrastructure for Credit Unions to modernise their business models and become
more sustainable.</p><p> </p>
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