Credit Unions back peo­ple

Airdrie & Coatbridge Advertiser - - Info..Info..Info -

The ‘Peo­ple, Not Profit’ credit unions cam­paign has been launched by Aileen Camp­bell, Cabi­net Sec­re­tary for Com­mu­ni­ties and Lo­cal Gov­ern­ment.

The cam­paign has been launched af­ter a new sur­vey re­vealed that one in five peo­ple in Scot­land have not heard of a credit union.

The launch was held at the Cap­i­tal credit union in Ed­in­burgh dur­ing Talk Money Scot­land Week.

Cur­rently, around 400,000 peo­ple across Scot­land are part of a credit union; ap­prox­i­mately seven per cent of the pop­u­la­tion.

The cam­paign seeks to sup­port the growth of the sec­tor by rais­ing aware­ness of credit unions and the ser­vices they of­fer to a wider and more di­verse au­di­ence.

A re­cent sur­vey 1 re­vealed that one in five (20 per cent) peo­ple in Scot­land had not heard of credit unions, and only two fifths (39 per cent) ques­tioned thought they would be el­i­gi­ble to be a mem­ber of a credit union.

The sur­vey also found that one in four peo­ple (28 per cent) wrongly be­lieve that credit unions make prof­its for share­hold­ers, just like banks.

The cam­paign will high­light that credit unions are not-for-profit or­gan­i­sa­tions pro­vid­ing loans and sav­ings, and that most peo­ple liv­ing in Scot­land would be el­i­gi­ble to join at least one credit union based on where they work or where they live.

A new web­site www.Cred­itUnions. scot has been launched to help peo­ple find out which credit union they could be a mem­ber of.

Aileen Camp­bell, Cabi­net Sec­re­tary for Com­mu­ni­ties and Lo­cal Gov­ern­ment com­mented: “In help­ing build a fairer Scot­land, we want to pro­tect peo­ple from get­ting into un­man­age­able debt and fall­ing into the hands of preda­tory, high cost lenders.

“A key part of this is mak­ing sure that peo­ple are aware of the fi­nan­cial ser­vices and fair al­ter­na­tives avail­able, in­clud­ing credit union mem­ber­ship.

“Our new cam­paign will high­light the ben­e­fits of join­ing a credit union and I would en­cour­age ev­ery­one to visit the new web­site to find out more.”

Visit www.Cred­ to find out more.

Of­fer­ing sup­port Aileen Camp­bell, left, Cabi­net Sec­re­tary for Com­mu­ni­ties and Lo­cal Gov­ern­ment, backs the Peo­ple, Not Profit cam­paign

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