Justin Welby, Archbishop of Canterbury Welby spoke at the launch of Churches Mutual Credit Union in London, England. There will be at least 60,000 people eligible to bank with the Churches Mutual Credit Union (CMCU), including ministers, employees and trustees of the churches involved. (For more information, visit http://bit.ly/1UTF37s)

“Credit unions are essential. We are trying to build a new financial sector in [the United Kingdom]; it’s going to take a long time, but this is the churches putting our money where our mouth is – and it’s a tribute to the priority that this has that we have the churches from around the United Kingdom here today. This is a major step to say that over time the credit union sector is a viable sector, not just in the poorest areas but for everyone. It adds to the ways in which the church is engaging with issues of poverty in this country very actively, and in a very focused and decisive way. That is an important step – it’s not just saying such-and-such ought to happen; it’s saying it ought to happen and we’re going to be part of it.”