Wonga and the Archbishop.
Competing with Wonga could be a good idea. But hinting that any local Anglican church could be an office for an alternative credit union downplays the real possibility of opposition from within the church.
That apart, one needs to know how much experience the church has with credit unions. How well does the church know the local poor, as opposed their regular congregations? Will the level of interest charged compare with other credit unions; or will it be higher? Where will the church get it’s starting capital from; and at what level of interest? Does the church have trained personnel to administer loans? How much support will the church be able to give to it’s debtors when they get behind with their payments?
Despite these doubts, the increased use of church buildings during the week is a very good use of space. And debt advice could be offered along side the many crèches the churches now run. The possibilities for helping citizens in a large number of ways starts to become visible.
If this were to work it might even increase the size of the Sunday congregations!
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