Suc­cess­ful time at credit union

Stirling Observer - - FRONT PAGE - Staff re­porter

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.”

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