THE Coalition Government has demonstrated a remarkably consistent insight in its selection.
To advise the Credit Union Movement on interest rates, it chose as head of the project steering committee, Deanna Oppenheimer, a senior executive of Barclays Bank.
If Credit Unions are persuaded by the DWP to charge interest rates in excess of 42% APR, all confidence in the movement will be weakened. Credit Unions like ours, which continue to charge the worldwide recommended rate of 12.68% APR will have to work twice as hard to convince prospective members of our ethical standards. I would appeal to all Credit Union members to resist any attempt by their directors to implement these usurious interest rates.
Johnstone Credit Union,
26 Church Street, Johnstone.
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