Credit Action
Encyclopedia
Credit Action is a UK charity founded in 1994 that promotes money education and financial literacy. Credit Action works with government, regulators and the lending industry and has a close partnership with the Consumer Credit Counselling Service (CCCS), a debt counseling and management service.
The charity has offices in[Bloomsbury], London
, but works nationwide.
, working primarily through the church in the UK. In 2002 Credit Action transferred its financial advice helpline to CCCS as demand was greater than Credit Action could meet. They have been known to make a stand for consumers where they believe that they are being exploited by unfair lending practices. A prime example of this is the campaign launched in May 2008 criticizing illegal credit advertisements on social networking sites.
In November 2007 Credit Action, in partnership with GE Money, launched a mobile phone budgeting tool called the Moneybasics Spendometer as a key part of their strategy to develop practical money management solutions.
At the start of 2008, in conjunction with One Parent Families
, Credit Action released a handbook for single parents - as single parents often specific money management issues to deal with.
Credit Action has highlighted the growing issue of payday loans in the United Kingdom
, with Credit Action's Chris Tapp saying in mid 2008: "Over the past year, payday loans have become an issue in the UK, and the growth in people who have problems who have such a loan has been notable in the last six months.".
Credit Action is having an increasing role in helping form government policy in financial education and over-indebtedness. Most recently, they were mentioned by Lord Anderson of Swansea and Archbishop of Canterbury
in a debate on indebtedness in the House of Lords.
The charity was recently selected by New Philanthropy Capital
as a recommended charity for donation in its July 2008 report Financial Exclusion: short changed
The charity has offices in[Bloomsbury], London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, but works nationwide.
Aims
Credit Action aims to generate ‘better thinking about money,’ by promoting sensible and effective personal money management. In additional to general information about financial subjects of interest to consumers, the non-profit organization provides specific "money guides" for students, single parents and those in debt.History
Credit Action was founded in 1994 by Keith Tondeur with support from the Jubilee CentreJubilee Centre
The Jubilee Centre is a Christian social reform think tank based in the United Kingdom which conducts research into the contemporary relevance of the biblical vision for society.- About the Jubilee Centre :...
, working primarily through the church in the UK. In 2002 Credit Action transferred its financial advice helpline to CCCS as demand was greater than Credit Action could meet. They have been known to make a stand for consumers where they believe that they are being exploited by unfair lending practices. A prime example of this is the campaign launched in May 2008 criticizing illegal credit advertisements on social networking sites.
In November 2007 Credit Action, in partnership with GE Money, launched a mobile phone budgeting tool called the Moneybasics Spendometer as a key part of their strategy to develop practical money management solutions.
At the start of 2008, in conjunction with One Parent Families
One Parent Families
is a registered charity which provides advice, support and campaigns for single parent families. Following a merger with One Parent Families in 2007 it was briefly known as "One Parent Families|Gingerbread" before relaunching as Gingerbread in January 2009.J. K...
, Credit Action released a handbook for single parents - as single parents often specific money management issues to deal with.
Credit Action has highlighted the growing issue of payday loans in the United Kingdom
Payday loans in the United Kingdom
Payday loans in the United Kingdom are a rapidly growing industry, with four times as many people using such loans in 2009 compared to 2006 - in 2009 1.2 million people took out 4.1 million loans, with total lending amounting to £1.2 billion. The average loan size is around £300, and two-thirds of...
, with Credit Action's Chris Tapp saying in mid 2008: "Over the past year, payday loans have become an issue in the UK, and the growth in people who have problems who have such a loan has been notable in the last six months.".
Credit Action is having an increasing role in helping form government policy in financial education and over-indebtedness. Most recently, they were mentioned by Lord Anderson of Swansea and Archbishop of Canterbury
Archbishop of Canterbury
The Archbishop of Canterbury is the senior bishop and principal leader of the Church of England, the symbolic head of the worldwide Anglican Communion, and the diocesan bishop of the Diocese of Canterbury. In his role as head of the Anglican Communion, the archbishop leads the third largest group...
in a debate on indebtedness in the House of Lords.
The charity was recently selected by New Philanthropy Capital
New Philanthropy Capital
New Philanthropy Capital is a charitable organisation based in London. It states its mission is to direct more funding to effective charities and help donors make more informed decisions on how to give. New Philanthropy Capital produces reports on issues of social welfare and analyses the...
as a recommended charity for donation in its July 2008 report Financial Exclusion: short changed