Labour’s Islwyn MP Chris Evans has been re-elected as Treasurer of the All Party Parliamentary Group on credit unions.
Mr Evans, a long-standing campaigner against high lending fees, has promoted credit unions as an alternative to loan sharks and door step lenders since his election to Parliament.
Speaking after a Westminster Hall debate, in which he called for more people to use credit unions, Mr Evans said: “At a time when families are struggling to make ends meet the last thing they need is predatory loan sharks offering loans at extortionate rates of interest.
“Credit unions offer an alternative to this and help prevent people getting into a vicious cycle of borrowing. They are safe places to lend money as they are owned and controlled by their members.
“I have seen first-hand the difference Islwyn Community Credit Union, which has recently lent its millionth pound, has made to my constituency.
“My role as Treasurer of The All Party Parliamentary Group helps me continue to promote organisations like these.”