Enterprise to expand
Service now available
A social enterprise that aims to tackle financial exclusion has set up a new base in Castlemilk.
Scotcash was founded with support from the likes of Glasgow City Council and Glasgow Housing Association.
They offer affordable loans from £50 as well as financial advice to residents.
Since being set up, the group has saved customers £4.7million in interest payments while they have also helped open 2,261 bank accounts and 652 credit union savings accounts.
In 2013, a £1m grant from the Big Lottery Fund helped them launch bases in the east and north of the city.
They are now supporting the opening of the Glasgow south base, which will allow residents in Castlemilk, King’s Park, Toryglen and Croftfoot to access the service more easily.
CEO Sharon MacPherson said: “Our model addresses the needs of low income communities in a sustainable way, demonstrating that you can successfully provide financial services that many struggle to access.
“The poverty premium paid by those least able to afford it is something we at Scotcash have committed to address by providing lower cost alternatives.”
The base will also be supported by Jobcentre Plus, Jobs and Business Glasgow and GHA Castlemilk, who have allowed a loan officer to be based at their premises.
Big Lottery Fund Scotland director, Jackie Killeen said: “Scotcash is a great example of a partnership project that connects people to a range of services across the city.
“Their work means that they can reach out and offer financial support to people who need it most.
“The Big Lottery Fund is delighted to support Scotcash’s success, enabling access to financial services for those who can often find it a challenge.
“It’s great news that those who live and work in Glasgow South will also be able to benefit from their expertise.”
Scotcash also works with Glasgow Central Citizens’ Advice Bureau, Home Energy Scotland and One Parent Families Scotland to provide help and advice to customers. The loan officer is available at:
Jobcentre Plus, Unit 1, Castlemilk Arcade, Glasgow, G45 9AA, on Mondays and Tuesdays
GHA, 15 Dougrie Road, Castlemilk,. Glasgow, G45 9NG, on Wednesdays and Thursdays
Jobs and Business Glasgow, Glenwood Business Centre, 21 Glenwood Place, Glasgow G45 9UH, on Fridays.
Residents can phone the office on 0141 276 0525 if they wish to make an appointment for a loan or basic bank account.
They can reach out and offer financial support