NEWS

Wales Office

The Legal Services Commission produces a series of public information leaflets, which cover key areas of the civil law in England and Wales.

 The leaflets in this series give an outline of legal rights. They are not a complete guide to the law and are not intended to be a guide to how the law will apply to every individual or to any specific situation.

Anyone with a legal problem will need to get more information or personal advice to work out the best way to solve it. For sources of information and advice see the 'Further help' sections under each leaflet. Alternatively, people can contact Community Legal Advice to find quality assured legal help.

These leaflets are provided for free, and are available in English, Welsh, Braille and Audio.

Individual copies can be downloaded from the website www.communitylegaladvice.org.uk

The current series is made up of leaflets covering a wide range of issues

Get free, confidential legal advice by calling 0845 345 4 345. You can get help with problems with debt, housing, employment, education and benefits and tax credits. Calls cost from 4p/min. from a BT landline. Calls from mobiles are usually more. Worried about the cost?    Ask to be called back

When you call or are called back, the first person you will speak to is an operator. They are not legally trained but will ask you questions about your problem to find out what kind of information and advice you need.

If you or someone you know has limited access to the internet, Community Legal Advice is also available on digital interactive television. You can search for a legal adviser, order free leaflets, and get information about debt, housing, education, employment, and benefits and tax credits.

Credit Crunch & Credit Unions

Credit Unions are well placed to face ‘the credit crunch’ argued Mark Lynnette, CEO of ABCUL (Association of British Credit Unions Ltd) on a recent BBC Politics programme.

He described how credit unions are coming into their own as a safe haven for cautious cash and that they less vulnerable in the current financial situation as they are mutually owned and controlled by members.

Credit unions don’t have a stock market price that people can bet on and speculate on in order to make money. The Financial Services Authority (FSA) has strict regulations on running of credit unions.  A strong point in these troubled times is that credit unions can only loan out a proportion of their own money—unlike banks they can’t borrow money to loan out money.

There are 49,000 credit unions worldwide in 96 countries with assets of US $1.2 trillion. In Wales there are 30 credit unions with 40,000 adult members and 7,500 junior members with £16 million in savings.

Unlike banks or building societies they cannot hold stocks or shares or make loans to companies or individuals who are not members of their credit union.  All credit union funds must be held in a bank or building society.  The Financial Services Compensation Scheme that guarantees individual bank and building society accounts up to £50,000 also includes credit unions. However, the maximum holding for a credit union member is £10,000.

Another difference between credit unions and other financial institutions is that virtually all savings and loans of members are covered by a free life insurance.

The Archbishop of  Canterbury, Dr Rowan Williams welcomed Westminster proposals  to enable  community groups and local businesses,  clubs and voluntary societies   to join credit unions.

“Credit unions do have a vital role to play in time of a credit crunch,” says Bill Hudson, Wales Co-operative Centre, “They are based on mutual principles. They don’t benefit anybody other than their members and their members ‘communities’.”