MEP urges Hitchin savers to avoid 'greedy banks'

AN MEP is urging savers to switch their money from greedy high street bankers to a local credit union. Hertfordshire Euro MP Richard Howitt is in Hitchin this lunchtime calling for savers to take their money out of bank accounts and put it into Black Sq

AN MEP is urging savers to switch their money from 'greedy high street bankers' to a local credit union.

Hertfordshire Euro MP Richard Howitt is in Hitchin this lunchtime calling for savers to take their money out of bank accounts and put it into Black Squirrel Credit Union as the North Herts initiative announced a major expansion in the town.

The union, established with European cash, has begun work with Howard Cottage Housing Association to give more help to Hitchin's hard-pressed residents.

Mr Howitt said: "Local money co-ops like Black Squirrel Credit Union offer a real alternative to greedy high street bankers. They are safe, secure, and ethical with over 400 local people trusting �95,000 with them.


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"By working with local housing groups it will make it much easier for people who have been betrayed by bankers or for those being preyed on by loan sharks and door-step lenders to use their services.

"European Year to Combat Poverty should serve as a reminder for us to redouble our efforts. Credit unions are widely used in other European countries and I will be pushing for European cash to help money co-ops grow here. Credit unions must be part of the battle against money misery.

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