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Reports like this no longer surprise Seth Appiah-Mensah, the African Union sector commander here.
However, the credit union sector is now regulated by the Prudential Regulation Authority, which also polices banks and building societies.
So what can be done to increase membership and therefore the amount of capital in the credit union sector?
The credit union sector in the UK is growing, but there is some way to go before loan sharks are driven out of existence.
However as local authority budgets are squeezed ever tighter and funding pots pulled ever thinner, the credit union sector has more pressing needs than goodwill.
The credit union sector, so long a quiet backwater of financial services, thinks its moment has arrived, as people's need for affordable credit and their outrage at the interest rates charged by companies such as Wonga both increase.
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While credit unions in Britain remain relatively small, internationally there are active credit union sectors in 103 countries with more than 208 million members and assets of $1.7tn£1.2tntn).
It also reduces the incentives for consumers to shift purchases to the non-union sector and therefore increases union bargaining power.
As labor unions pushed up their members' wages, it created upward pressure on wages throughout the non-union sector as well.
organizer Phillip Andrews, who's working with the Guitar Center campaign says that a perennial challenge in this largely non-union sector is that "conditions in retail are so bad that nobody really cares about the job that they do have, and even if they did, they have very little expectation that it's going to get any better".
The authors investigate unions and wage inequality in the USA, the UK, and Canada countries in which there is perhaps the clearest distinction between the union and non-union sectors—since the early 1980s.
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