6th December 2022
Today is the feast of St Nicholas who once threw three bags of gold into the house of a poor father who was no longer able to provide financially for his daughters. Amongst other things, St Nicholas s the patron saint of pawn brokers and hence the three gold balls that symbolise a pawn broker. Sadly there are still people who find themselves unable to provide financially for their household needs. One source of finance that has proved useful are credit unions. These operate like a cooperative with everyone a co member. Members use the the union both for savings and for loans and because the union is owned by them, it operates to their best advantage – and not say to the advantage of external share holders. They are always a cheaper option than pay day loans.