(EMAILWIRE.COM, August 01, 2013 ) Lancashire, UK -- Archbishop Welby of the Church of England plans to take on payday lenders, such as Wonga, by allowing credit unions to set up shop on church property to help people in need of money without charging significant interest rates.
Welby said that the initiative helps the Church put their money where their mouth is, in helping to develop an alternative to the high interest lenders for those on low incomes with bad credit. The archbishop has openly stated that payday loans are a form of modern slavery, and is an advocate of government regulation of the industry.
This is the first time Welby has laid out plans to help 500 financial co-ops, which already provide small loans, by reaching out and allowing them to use the Churchs 16,000 premises. Welbys purpose for doing this is to help credit unions become more engaged in the community and become more professional.
There are supporters and critics on both sides. Many feel that Archbishop Welby should be congratulated on his efforts to help support credit unions and the payday lending reform for lowincome families, but others feel that its a bit unrealistic to expect the church to deal with money in the way Welby has gotten involved.
The Office of Fair Trading announced Tuesday that 15 of 50 lenders it wrote to asking for better business practices would be throwing in the towel and delaying any more loans before reevaluating their business and continuing their processes.
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Swift Money (http://www.swiftmoney.org/) provides quick, easy access to money you need from the comfort of your own home while adhering to all lending laws and practices to be one of UKs most reputable payday lender. With access to over 20 of the most established lenders in the nation, SwiftMoney can get you the cash you need in as little as 24 hours. Visit the website today and apply for a payday loan to get you over your financial bump.
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0800 567 7444
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Welby said that the initiative helps the Church put their money where their mouth is, in helping to develop an alternative to the high interest lenders for those on low incomes with bad credit. The archbishop has openly stated that payday loans are a form of modern slavery, and is an advocate of government regulation of the industry.
This is the first time Welby has laid out plans to help 500 financial co-ops, which already provide small loans, by reaching out and allowing them to use the Churchs 16,000 premises. Welbys purpose for doing this is to help credit unions become more engaged in the community and become more professional.
There are supporters and critics on both sides. Many feel that Archbishop Welby should be congratulated on his efforts to help support credit unions and the payday lending reform for lowincome families, but others feel that its a bit unrealistic to expect the church to deal with money in the way Welby has gotten involved.
The Office of Fair Trading announced Tuesday that 15 of 50 lenders it wrote to asking for better business practices would be throwing in the towel and delaying any more loans before reevaluating their business and continuing their processes.
About SwiftMoney.org
Swift Money (http://www.swiftmoney.org/) provides quick, easy access to money you need from the comfort of your own home while adhering to all lending laws and practices to be one of UKs most reputable payday lender. With access to over 20 of the most established lenders in the nation, SwiftMoney can get you the cash you need in as little as 24 hours. Visit the website today and apply for a payday loan to get you over your financial bump.
Customer Service
0800 567 7444
support@swiftmoney.org
Source: EmailWire.Com