News and Articles
30 July 2013
Justin Welby, the Archbishop of Canterbury, has been in the news a lot in the last week following his claim that he wants to put payday lenders (like Wonga) out of business.
The Archbishop wants to open up Anglican church buildings to credit unions and other more responsible lenders. Access to credit at a reasonable price is a significant problem in the UK today and payday lenders have played a role in allowing people normally excluded from high street banks to borrow money without having to go to loan-sharks.
However, the Church of England has rightly said that lenders charging interest rates in excess of 1,000% APR are verging on usury.
Credit Unions are not new to Southampton. The main office of the Solent Credit Union is at 153a High Street. You can find out more about the Credit Union, how to set up a savings account or apply for a loan on the Solent Credit Union website »
Above Bar Church will also be running a money management course called CAP Money with confidential advice and training for those who are interested in learning about budgeting. This course is bring run in conjunction with Christians Against Poverty (www.capuk.org) and will begin in October 2013. You can find out more information by contacting the church office in complete confidence.