Euro MP Richard Howitt has thrown his weight behind a campaign to encourage people to put their money into financial co-operatives.

The East of England MEP, whose constituency includes Bedfordshire, was in town a week ago to urge people to move their cash to credit unions.

And he contrasted them with investing in high street banks and loan sharks.

Mr Howitt said: "Local money co-ops like Bedford Credit Union offer a real alternative to greedy high street bankers who have betrayed their customers or for those being preyed on by loan sharks and door-step lenders.

"The opening of four new collection points around the city will make it much easier for people to use the services of Bedford Credit Union and their work with schools is a great way of teaching kids about money matters and how to save for the future.

"European Year to Combat Poverty should serve as a reminder for us to redouble our efforts.Credit uni-ons are widely used in other European countries, I will be pushing for European cash to help money co-ops grow here. Credit unions must be part of the battle against money misery."

Bedford Credit Union is based in St Paul's Square in Bedford and is expected to expand this year.