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Why are Credit Unions not popular in the UK?

14 June 2014 Last updated at 10:52 BST

Credit unions are mutually-owned, locally-based and ethically-run. They provide low cost loans for those who are less comfortably off.

Across the UK, just 2% of the adult population is a member of a credit union.

In the United States they are used by 46% of consumers.

Personal Finance Reporter Brian Milligan reports.