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The current economic situation is often identified as the most cataclysmic financial predicament since the Great Depression of the 1930s. Most analysts strongly agree that traditional banking is no longer sufficient for the general public, and an ethical model for banking is required that can empower the more vulnerable elements within our society.
Soon after the financial crisis hit in 2008, the most pressing issue on everyone’s mind was how our finance sector could be reformed so that a meltdown of this degree would never again occur and economic stability could return to the UK.
In a co-ordinated demonstration of support for credit unions, over 40 Bishops visited or joined their local credit union in October. In the wake of comments by the Archbishop of Canterbury in the summer, churches and credit unions are working together to strengthen the provision of local, affordable financial services in the communities they both serve.
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