Successful time at credit union
Members of Stirling Credit Union held their annual general meeting on February 13.
They voted in favour of paying a dividend of half a per cent on savings and are to grant a rebate of the same amount on interest paid on loans.
Surplus profits were being used to boost reserves which now stand at the highest level ever. This is with a view to supporting further expansion in the coming year.
A spokesman said the 12 months to September 30, 2016, had been another successful period for the credit union.
“For the first time, we are paying a rebate of loan interest as well as paying out a dividend on savings,” added the spokesman.
“Credit unions are the only lenders that reward borrowers in this way. It is one of the unique features about being a credit union member.
“We are well placed to roll out expansion plans to increase our membership and services to the community over the coming year.”