An MP has launched a campaign in Parliament to set up a new credit union for families in the armed forces.

Harrow West MP Gareth Thomas led a debate calling for an armed forces credit union to help military families who may be facing financial difficulty.

He says members of the forces can face real disadvantages when it comes to accessing financial services such as mortgages due to long periods stationed abroad.

It is hoped an armed forces credit union would help by providing financial products tailored to the needs of military personnel.

Mr Thomas said: “Armed forces families make huge sacrifices for our country.

“An armed forces credit union could provide specialist financial products tailored to meet the needs of service families and importantly help them plan for a future civilian life.”

During the parliamentary debate, Defence Minister Philip Dunn MP acknowledged that that plan could have “considerable benefit”, though stopped short of committing the MoD to adopting such a scheme.