Credit Union and Post Office link-up could plug 'credit gap'

A consumer group has called for credit union services to be offered through Post Offices to provide a long-term alternative to High Street banks, especially for people on low incomes.

Consumer Focus said one in three people would be interested in joining a credit union, but most did not think there was one nearby. The move would help plug a "credit gap" for low income consumers who turn to high interest, short-term loans, such as payday loans, as they cannot access affordable credit through banks, it was argued.