Glasgow MSP Anne McTaggart has called on local authorities across Scotland to look to the city to learn how to support growth for local credit unions.
The call follows a Gold Award at the COSLA Excellence Awards for Glasgow City Council’s Credit Union Development Programme in the Strong and Sustainable Communities category.
The awards success is recognition for the programme which has helped Glasgow’s credit union membership grow from just 3% in 2001 to 22% in 2010 and has been designed to empower local Credit Unions towards self-sustainability.
Anne McTaggart who is Deputy Convener of the Scottish Parliament’s cross party group on Credit Unions has lodged a parliamentary motion calling for more support and encouragement of Credit Unions – using Glasgow’s success story as a selling point.
Ms McTaggart said:
“I am delighted that the COSLA awards have recognised the fantastic achievements of Glasgow’s Credit Union Development Programme. In less than 10 years it has helped membership grow to over 1 in 5 people arguably making Glasgow the Credit Union capital of the UK.
“I am sure that other Credit Unions in other areas could benefit from their local authorities taking a leaf out of Glasgow’s book.
“In the current economic climate Credit Unions are a valuable source of low cost loans not to mention the promote saving, and I for one am delighted that Glasgow is leading the way in supporting this ethical financial service.”