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Following the recent announcement that consumers will no longer be able to use
Post Office branches to manage their National Savings and Investments savings
products, ABCUL has called for credit union services to be made available
through the Post Office network.
Chief Executive Mark Lyonette explained: “Many people rely on their local Post
Office for simple cash based savings products that they have valued for many
years.
"The prospect of a big reduction in such products available through the Post
Office network leaves a big gap which credit unions would be very well placed to
fill.
“Credit unions offer simple, safe savings products to nearly a million people
across Britain, but access in many areas to these services is limited.
"With the potential investment in the sector that the Government is currently
considering, credit union savings and affordable loan products could be made
available through the Post Office network.
“This could make local and mutual financial services accessible to millions more
people and ensure that the Post Office remains a valued provider of the products
people need.”
Source:
Getting Paid
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