1.6 million Americans

I have been listening over a sun-glinted breakfast in the City of London to Cliff Rosenthal, who has helped to develop a movement of community development credit unions in the USA.

1.6 million members, predominantly low-income, low-wage and minority take part, providing a financial lifeline. It is a small and highly successful part of a wider, mainstream credit union sector, which, with 90 million members, is itself the largest co-operative sector in the USA.

With the banking crisis, there has been a growing campaign to “move your money” to local institutions in the USA.

Cliff is on his way up to Glasgow for the global credit union congress organised by WOCU.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s