Fair Banking for All Campaign Urging MPs to Tackle Financial Exclusion

Friday 28 March 2025

As part of the Fair Banking for All Campaign, ABCUL and the campaign’s associated partners involved is using the momentum of Michael Sheen’s powerful Channel 4 documentary, Michael Sheen’s Secret Million Pound Giveaway, to push for urgent action on financial exclusion.

With millions of people across the UK struggling to access affordable credit, ABCUL supports the Fair Banking for All Campaign’s latest call to action, which is encouraging MPs to back legislative changes that promote fair credit for all.

The proposed legislation would require high-street banks to offer fairer lending to low-income households and small businesses or support community-based credit providers, including credit unions.

Research suggests that such an act could increase responsible lending from an estimated £250 million to £3.3 billion annually—helping to lift millions out of cycles of high-cost credit and debt.

The Michael Sheen documentary highlighted the reality of the UK’s credit crisis, demonstrating how many individuals are forced to turn to payday lenders or even illegal loan sharks due to a lack of viable alternatives. With British credit unions now serving a record 1.5 million members and holding over £2.3 billion in savings, the sector is stepping up to offer ethical, responsible financial services to those who need them most.

ABCUL’s Communications Manager, Patrick Thorpe, praised the documentary and the campaign, stating: “Michael Sheen and the Fair Banking for All Campaign is doing an important job of shedding light on the financial struggles faced by millions. People are being rejected by high-street banks due to their income level or credit score, leaving them vulnerable to high-cost lenders and illegal moneylenders. Credit unions provide a lifeline, offering fair and responsible financial products that support communities and employers across the country.

“With the government’s commitment to doubling the co-operative sector and the Chancellor’s call for evidence to review the common bond, we are at a pivotal moment for the credit union movement. A Fair Banking Act would help credit unions expand and serve even more people, ensuring that fair finance is accessible to all.”

“ABCUL continues to support the campaign in advocating for MPs to take action on financial exclusion and introduce legislation that promotes fair lending practices. We encourage our members and supporters to watch the documentary, join the conversation online, and take part in the campaign by contacting their MP.”

To take action, visit the campaign page here.