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An ‘alternative mainstream’? The impact of financial inclusion policy on credit unions in Wales

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  • Jan Myers
  • Molly Scott Cato
  • Paul A. Jones

Abstract

Not having access to mainstream financial services, such as a bank account or a credit card, can lead to a variety of social and economic exclusions. In a number of countries, particularly Ireland, Spain, Canada and the UK, credit unions— member-owned financial co-operatives—play a significant role in reaching under-served and excluded communities, as well as providing ‘safe’ avenues for savings and credit. Yet many credit unions are facing financial and operational problems. This article looks at the experience of Welsh credit unions. The research has implications for policy development and government--credit union relations in Wales and further research on credit unions and financial inclusion.

Suggested Citation

  • Jan Myers & Molly Scott Cato & Paul A. Jones, 2012. "An ‘alternative mainstream’? The impact of financial inclusion policy on credit unions in Wales," Public Money & Management, Taylor & Francis Journals, vol. 32(6), pages 409-416, November.
    • Handle: RePEc:taf:pubmmg:v:32:y:2012:i:6:p:409-416
    DOI: 10.1080/09540962.2012.728780
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    References listed on IDEAS

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    1. Donal G. McKillop & Anne-Marie Ward & John O. S. Wilson, 2007. "The Development of Credit Unions and Their Role in Tackling Financial Exclusion," Public Money & Management, Taylor & Francis Journals, vol. 27(1), pages 37-44, February.
    2. Jones, Paul A., 2008. "From tackling poverty to achieving financial inclusion--The changing role of British credit unions in low income communities," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(6), pages 2141-2154, December.
    3. Andrew Leyshon & Dawn Burton & David Knights & Catrina Alferoff & Paola Signoretta, 2004. "Towards an Ecology of Retail Financial Services: Understanding the Persistence of Door-to-Door Credit and Insurance Providers," Environment and Planning A, , vol. 36(4), pages 625-645, April.
    4. Noreen Byrne & Olive McCarthy & Michael Ward, 2007. "Money-Lending and Financial Exclusion," Public Money & Management, Taylor & Francis Journals, vol. 27(1), pages 45-52, February.
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    Cited by:

    1. Chao, Xiangrui & Kou, Gang & Peng, Yi & Viedma, Enrique Herrera, 2021. "Large-scale group decision-making with non-cooperative behaviors and heterogeneous preferences: An application in financial inclusion," European Journal of Operational Research, Elsevier, vol. 288(1), pages 271-293.
    2. Molly Scott Cato & Jan Myers & Steven Howlett, 2013. "At the sharp end of the credit crisis: A profile of Valleys Credit Union," Local Economy, London South Bank University, vol. 28(6), pages 539-552, September.

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