Chris Bloore

Chris Bloore

Labour — Redditch

Speaking in the House of Commons on 16 July 2025

Debate

Credit Unions

Contribution

I congratulate my close friend, my hon. Friend the Member for Cumbernauld and Kirkintilloch (Katrina Murray), on securing this important debate. My hon. Friend the Member for Glasgow North (Martin Rhodes) made a powerful point about what happens in communities when credit unions go bust because they face huge regulatory burdens. My town, Redditch, has lost three credit unions over the last decade, meaning that because people cannot access financial support from the mainstream banks, they fall prey to speculative and very high-interest financial products from companies that should know better. Credit unions protect some of the most vulnerable people in our society.

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