As a member of a credit union and a saver and borrower, Independent MEP Marian Harkin had a very positive personal experience of the Credit Union Movement.

This was stated by Independent MEP Marin Harkin when she hosted a breakfast seminar in Brussels for representatives of the worldwide credit union movement.

The substantial worldwide problems which had derived from the collapse of the sub-prime credit system in the USA emphasised the need to provide EU consumers with a better understanding of the sources and uses of finance, she said.

The Seminar entitled ‘Financial Education of European Consumers’, focused on the need for greater consumer knowledge of the pitfalls existing in the area of credit availability and the role in credit and savings played by the international credit union movement.

As a member of a credit union, and a borrower and saver, her personal experience of that service had been most positive, she said.  In many respects, as a not for profit movement, the credit unions played a major community role and involved a significant voluntary component.  “As an MEP currently involved in compiling a report on Volunteerism for the Regional Policy Committee I will be referring positively in it to credit unions and the role they play not just in the EU but for 157 million members in 92 countries across the world”, Independent MEP Marian Harkin said.