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You and your money
Many Hull residents are discovering that their local Credit Union helps them take control of their money by encouraging them to save what they can and borrow only what they can afford to repay.
As a result, hundreds are "breaking free" from the clutches of high-cost doorstep lenders and loan sharks. And many are using the money they are now saving each week to put aside a little "nest egg" for next Christmas, their children's future or just a rainy day.
We live in an age when so many aspects of our lives seem dominated by the activities of giant multinational companies, run to create value for their shareholders, often living miles away and having no affinity with our city.
So it's refreshing to come across an organisation actually owned by and run for the local people who use its services – its members.
Thanks to this "credit union difference", those same members all get their share of the profits - a nice little bonus added to their savings accounts just in time for Christmas. They also have a say in how their credit union is run, by voting at the AGM and choosing its directors, who are all local people passionate about its success.
It's a fine example of the kind of self-help and mutual support that William Wilberforce would readily have approved of.
Credit unions were born out of the desperate conditions many found themselves in during the Industrial Revolution.
By coming together to pool their savings and lend to one another on reasonable terms, people found freedom and independence.
As we salute Wilberforce for his fine work, it's a different way of doing things that offers great hope for the future.
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