A NEW Scottish Government campaign has been launched to make the public aware of the benefits of credit unions.
The People, Not Profit initiative has been set up as results of a recent survey suggests one in five people in Scotland have not heard of a credit union.
The campaign was launched by Aileen Campbell, Cabinet Secretary for Communities and Local Government, at the Capital Credit Union in Edinburgh and came during Talk Money Scotland Week.
Around 400,000 people across Scotland are part of a credit union – approximately 7% 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.
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 – CreditUnions.scot – is now live to help people find out which credit union they could sign up to.
Campbell – pictured with Capital Credit Union’s CEO Marlene Shiels, centre, and member Jessica Graham, right – 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.”
Actor Michael Sheen, who helped to produce a short video for the campaign, added: “I’m very pleased to be backing the People, Not Profit campaign, and I share the Scottish Government’s ambition to grow and raise awareness of this sector.
What’s important to me is that they are owned by the people who actually use their services, and any profits are invested back into the credit union.”
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