Logo for Plough & Share

Credit Union Access Point in Crediton

The failures of the national and global finance and banking system continue to affect all of us. People lucky enough to have savings may have lost some of them when foreign banks went bust, or are still losing them every day to the City men in the middle and the owners of the global casino where we now find that the chips were not what we were promised.

And we are right to be angry. Even the executive director of the Bank of England for financial stability, Andy Haldane, thinks we should be:

"In terms of the loss of incomes and outputs, this is as bad as a world war. That's the scale we are talking about. It would be astonishing if people weren't fed up, on the street, asking big questions about where finance has gone wrong.

If we're fortunate, the cost of this crisis will be paid for by our children. More likely, it will still be being paid for by our grandchildren. There is every reason why the general public ought to be deeply upset by what has happened. And angry. That's something we as policy makers need to do something about."

Many of us who don't have savings lose an even greater proportion of our spending power to lenders who trade on a sometimes desperate need for short-term cash. Online and on the doorstep, they are exploiting people in this community. So what can we do?

Support local financial solutions - join the Credit Union

Credit Unions help the whole community, as they keep money circulating locally, and demonstrate that solutions to our problems may be closer than we sometimes think. Plough & Share Credit Union, based in Okehampton, serves Devon and currently has over two dozen outlets run by volunteers in the County.

Sustainable Crediton is now working with Plough & Share. Our Credit Union Service Point is in the Council Offices in Market Street, and is open every Friday from 1.30 to 3.00 p.m. It is run by 12 Sustainable Crediton volunteers, who have also been working with other organisations in the town to raise awareness of what it can offer to those who would like their savings to stay helping people who need affordable small loans from an ethical, local provider.