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CU System
Zimbabwe considering setting up a CU in UK
LONDON (2/9/10)--An organization in Zimbabwe is seeking authorization from the United Kingdom's (UK) financial regulator, the Financial Services Authority, to become a credit union. The Zimbabwe Diaspora CU Ltd., would provide financial services to Zimbabweans who live and work in Great Britain and Northern Ireland (zimdiaspora.com Feb. 8). The organization is also seeking registration with the Association of British Credit Unions, which is a member of the World Council of Credit Unions. Barbara Nyagomo, one of the idea's promoters, said in a memo that the credit union would reward sustainable behavior by offering better interest rates for loans, mortgages and supportive loan programs for members who lack credit ratings.


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