In
accordance with Council Procedure Rule No. 12, Councillor Stanton will move the
following motion:-
“That
this Council;
a) Recognises a legitimate consumer
demand among members of the communities of South Derbyshire for short-term loan
facilities.
b) Notes with concern the growth of
heavily marketed ‘payday lending’ companies which can allow financially
challenged borrowers into unsustainable debt.
c) Encourages increased access to
not-for-profit credit unions including, specifically, Moneyspider.
d) Asks the Finance and Management
Committee and Officers to:
- Promote awareness of credit unions to
both public and Council employees and promote volunteers to assist through the
Council’s Communications Team.
- Introduce and publicise a facility for
employees and Elected Members to save with credit unions via the payroll
system.
e) Asks the Housing and Community
Services Committee and Officers to introduce and publicise an offer to pay the
registration fee of appropriate Council tenants wishing to join credit unions.
f) Asks the Director of Finance to
investigate the practicalities of supporting Moneyspider via an interest-free
loan of £50,000 and, subject to his positive advice, authorises the Chairman of
Finance and Management Committee and the Chief Executive to progress this”.