Credit unions

Press, 23 February 1989, Page 12

Credit unions

Sir,—The majority of credit unions are connected with trade unions. The second largest group of credit unions is connected with church groups. There are also those attached to organisations (such as the Democratic Party) which are opposed to high interest rates on moral grounds. The basic idea of a credit union is that the members lend money at low interest, and have the right to borrow at low interest, and any profits belong to the members. That is not a tax dodge. For the Government to treat it as if it was a tax dodge would be to persecute people for their moral beliefs, which is an indication of what this Government is sinking to. — Yours, etc., JOHN RING. February 21, 1989.

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