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.
Notes
* For a useful description of the characteristics of credit unions, see McKillop et al.'s (2011) article in Public Money & Management.
* We distinguish between policy-makers who were directly or indirectly involved in the credit union support programme. All government officers were employed by, or on secondment to, the Wales Assembly Government unless otherwise indicated.