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Just the ticket for tackling debt

By SPP Reporter

Credit Unions, Scottish Government Viewpoint, Scottish Government
Credit Unions, Scottish Government Viewpoint, Scottish Government

Scottish Government Viewpoint

THE Scottish Government has launched a People, Not Profit campaign to support the Scottish Credit Unions that play a vital role in helping people stay out of unmanageable debt.

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.

Aileen Campbell, Cabinet Secretary for Communities and Local Government, launched the campaign.

A new survey has revealed one in five Scots have not heard of a credit union.

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

The survey revealed also that only two-fifths (39 per cent) of people questioned thought they would be eligible to be a member of a credit union, and that one in four people (28 per cent) wrongly believe they make profits for shareholders, just like banks.

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

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

Ms Campbell said: "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."

Michael Sheen, actor and social activist, who is a credit union member, has worked with the Scottish Government to produce a short video explaining what the organisations are.

* For more information, visit www.creditunions.scot

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