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High street players don’t get me – I’m part of the credit union

Credit brokers preying on the indebted with random texts and phone calls have been extracting fees of £70 or more simply for passing on the name and address of a credit union to desperate borrowers.

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Now the Association of British Credit Unions Limited (ABCUL) has welcomed the partial crackdown by the Office of Fair Trading (OFT) on the loan-finder industry.

It comes as credit unions embark on a £73 million modernisation that will help them fight the payday loan industry, and as bigger unions mount a serious challenge to the tarnished banks.