Because credit unions work, we want membership to grow and more people to benefit - from all income groups. The credit union movement needs to be financially stable, with more volunteers encouraged to come forward and get involved. And we want to change the public perception of a credit union as a poor man s bank . The fight against financial exclusion must be won if we are to deliver social justice in Scotland. It will also provide an early support package for new credit unions to ensure they become financially self-sustaining.
Financial exclusion limits opportunities for all.
Credit unions are all about people helping themselves out of poverty something the Government is working together with the Scottish Executive to end. The Financial Services Authority is currently consulting on how to develop a practical way to regulate credit unions, which meets the needs of the credit union movement and its members. Regulation and investment go hand in hand. Everyone should be able to access financial services and the benefits this brings. The Executive s investment in the Scottish credit union movement was warmly welcomed by Tom McVay, North Edinburgh Credit Union, and a member of the working group that produced the action plan.