CREDIT UNIONS

Early day motion 723, tabled 11 October 2005 by Mark Williams (Liberal Democrat). Signed by 79 members.

That this House regrets the growing problem of personal debt, which has trebled in the last decade, and the startling rise in numbers of people declared bankrupt over the same period; notes that aggressive marketing techniques are used too commonly by irresponsible lenders; pays tribute to the valuable and underestimated work carried out by credit unions in providing a non-profit, ethical and local alternative to financial management which encourages members to save regularly, provides low-cost loans to members, and encourages careful money management amongst members; and calls on the Government to outlaw aggressive credit promotions.

Signatures by party: Labour 37, Liberal Democrat 33, DUP 3, Conservative 2, Social Democratic and Labour Party 2, Plaid Cymru 1, UUP 1.