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Local MP Praises Stirling Credit Union

Published:

Categories: Charities and Third-Sector, Constituency, Local Business, Volunteering

Alyn Smith MP and Matt Gower, Caseworker to Alyn, meeting the Chair and Treasurer of the Stirling Credit Union

Stirling Credit Union, an ethical and community based financial service, has been praised by Alyn Smith MP. The credit union promotes good money management, provides loans at a fair and reasonable interest rate and can provide access to services for the financially excluded.

Credit unions are financial institutions, much like banks, however are owned by their members. These non-profit entities aim to serve the members rather than seeking profit for shareholders. They are safe and regulated by the FCA and PRA, with individual savings of up to £85,000 protected by the Financial Services Compensation Scheme.

For the last 20 years the Stirling Credit Union has provided secure savings and affordable loans for over 1,000 adult and more than 700 junior members. You can find out further information by visiting their website – https://www.stirlingcreditunion.co.uk/index

Alyn Smith MP said:

‘This is a superb institution and a great asset to the local area. The credit union model is a good example of how a non-profit can provide a real alternative to other financial institutions and predatory lenders.

‘The credit union has done a great deal of work providing services within the community and has a wonderful online platform and mobile app. The union is one Stirling’s best kept secrets and it is great to see an institution put people before profit.’