Grahame Morris – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Grahame Morris on 2015-11-16.

To ask Mr Chancellor of the Exchequer, what assessment he has made of the role of stakeholder banks in supporting regional growth.

Harriett Baldwin

Each quarter the British Bankers Association and the Council for Mortgage Lenders publish data showing the outstanding stock of lending in each postcode. This allows challenger banks, smaller building societies, credit unions and community development finance institutions (CDFIs) to find areas where there is a lack of lending so they can offer finance to those customers and support growth in that regional area.

The Government recognises the important role that stakeholder banks play in supporting their communities. We more commonly refer to stakeholder banks as credit unions, building societies and mutually-owned savings banks.