The UK Parliament has approved a Legislative Reform Order, which makes changes to the Credit Unions Act 1979, and new rules that enable credit unions to compete more effectively with banks and other lenders will be in place by January 2012.  The Order makes a number of changes, including allowing credit unions to provide services to community groups, attract investment from local businesses and extend services to new groups, including housing association tenants and employees. Credit unions will also be able to pay interest on savings, instead of a dividend, so people will more easily be able to compare rates.