Harringay, Haringey - So Good they Spelt it Twice!
A credit union for Harringay
Picked up this idea from Old Age Emporium in another thread:
I still think a Credit Union might be even more useful than our late lamented Building Society - and more attuned to our "lower socio-economic" area. It would be a community asset which presumably would not involve any change of use.
Anyone know anything about credit unions? How do they get started? Are they effective? Thoughts?
I still think a Credit Union might be even more useful than our late lamented Building Society - and more attuned to our "lower socio-economic" area. It would be a community asset which presumably would not involve any change of use.
Anyone know anything about credit unions? How do they get started? Are they effective? Thoughts?
Tags for Forum Posts: credit unions, local ideas
Replies to This Discussion
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Permalink Reply by John McMullan on
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Well I'm not sure if this is what Eddie means but you can do all this without a shop now.
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Permalink Reply by Old-Age-Emporium(OAE) on
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No, John. What I have in mind is the real world community advantages of the by now traditional CREDIT UNION, with its roots solidly sunk in a very local area, ethical, win-win, "people helping people" as they say. An ideal example, perhaps, of that symbiotic relationship between a community website and the community it may or may not represent or serve. Incidentally, it just might be the most practical incarnation of Harringay Diversity on-&offline.
I find it strange that ABCUL lists credit unions in Edmonton, Hackney, Leytonstone, Waltham Forest (council employees only), Camden, Tower Hamlets, Southwark, Lambeth, Lewisham, New Cross, even City of London!
BUT none in Haringey, never mind Harringay. North of Edmonton next CU's in Harlow. (You probably wouldn't expect to find one in Barnet?)
Most are locational (based on residents of a local area); one or two are for specific groups such as WF's council employees. The basis for a CU's existence is a "common bond", flexibly interpreted.
ABCUL (Association of British Credit Unions Ltd) is the place to go for info, guidance and training in setting up and running a Credit Union. Their website (www.abcul.coop) gives a good insight into what goes to make a CU, with case studies, details of investment and borrowing rates, training courses, seminars, conferences and other support.
Expertise? Enthusiasm? Commitment? Anyone up for it?
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Permalink Reply by Liz on
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Picked this comment up off our Facebook Page from Jeremy Green
Wouldn't a credit union for Haringey be more useful? Apparently some thought is being put into this within Council circles
so maybe we should find out which circles they are thinking about it in and direct them to our high street?
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Not yet, just picked it up off the wires now. Will pop a question over to him.
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Yes, 'HarringayGreenLanes Credit Union' (though they might think TottenhamHigh Road more suitable).
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I see Claire Kober/Bob Harris are making some provision (£25,000) towards a Haringey Credit Union in their 'caring election budget', according to the HJ's report. Seems Jeremy Green was right.
For the 2014 caring election budget the Lib Dem Cabinet have promised me they'll plough up Finsbury Park for my allotments. Live, cow, and you'll eat grass (as we used say in Culloville).
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Could all these cheapo sods working from home in Harringay not rent out and share a few of these shops as offices?
That is why we're talking about a credit union isn't it? The government have not let all the banks collapse and most of us can borrow and lend money...
You get lots of nice sunlight in this one.
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@John: That is why we're talking about a credit union isn't it?
Well no! John, that's a bit like saying we were proposing a W1 Bus just to slow down the traffic. The CU suggestion may have cropped up in a thread about use of an empty building, but I suspect a CU for Harringay might have a future even if Barclays, Abbey, Turkish Bank and Post Office still ply their trade on GL. I think there's probably place for community based micro-credit, not just in developing countries.
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Permalink Reply by Hugh on
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Here's an example in Hammersmith & Fulham
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'A strong credit union will make it more difficult for high interest home credit companies to exploit our community.
The more we are able to lend, the more local money we keep in the local community.
We will also reduce the ability of criminal loan sharks to prey on the most vulnerable people in our community.'
This H & F CU quote goes to the heart of it.
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