Chamber and committees

There are no current plans to introduce a credit union development fund.

Credit unions, as part of the third sector, have been eligible to apply to the Third Sector Growth Fund. The fund closed to applications on 19 September 2011. Applications are still being assessed and we expect decisions to be made in early December. Scotwest Credit Union and Capital Credit Union have recently been awarded a £1,000,000 investment from the Scottish Investment Fund to create a new Credit Union Shared Services Co-operative.

The Cabinet Secretary for Finance, Employment and Sustainable Growth met with Newarthill Credit Union in August 2011 regarding their concerns about the Financial Services Compensation Scheme and Single Customer View. Ministers and officials engage in regular dialogue with the Association of British Credit Unions Limited (ABCUL).

The Scottish Government does not maintain records on credit union numbers or membership.

On (a) financial education, the following tables set out the range of events and resources supported by Education Scotland (previously Learning Teaching Scotland), highlighting where these have been delivered in partnership where appropriate. Education Scotland has also organised a series of half-day financial education workshops for education practitioners.

On (b) literacy, the Literacy Action Plan was launched in October 2010 to raise standards of literacy for all from the early years to adulthood. Its implementation is overseen by the Standing Literacy Commission. The plan builds on existing good practice and ensures that literacy has a central and continuing focus in education and related government policies. Some of the many actions included in working towards this goal are the Adult Literacies in Scotland Strategic Guidance, the Scottish Government’s Play Talk Read campaign, and work that is funded through Education Scotland and Creative Scotland, including Write at Home and the Knowledge of Language website.

Table 1: School Financial Education Initiatives

Table 2: Further Education and Adult Education Financial Education Initiatives

The Scottish Government has not held any discussions about the role of credit unions with the bodies listed since May 2011.

The Scottish Credit Union Assistance Fund provided small grants of up to £10,000 to 29 credit unions during the years 2006-07 and 2007-08. In addition, £800,000 was provided over the same period to the Service of General Economic Interest (SGEI) Fund. This allowed new or existing credit unions to carry out additional financial inclusion activities.

Between 2008 and 2010 the Scottish Government invested £12 million in the Third Sector Enterprise Fund. This included £250,000 specifically for credit unions. A total of 186 awards were made, which included 32 credit unions.

Two of Scotland’s largest credit unions, have recently received a £1,000,000 investment from the Scottish Investment Fund. This will enable greater co-operation between the two credit unions, through their newly created Credit Union Shared Services Co-operative. The investment, awarded to Scotwest Credit Union in the West of Scotland and Capital Credit Union based on the East coast, will facilitate the introduction of a new operating and account management system.

Achieving our Potential, our framework for tackling poverty developed jointly with the Convention of Scottish Local Authorities, is already in place. That included measures to provide greater financial inclusion. We have no plans to develop a further strategy.

I refer the member to the answer to question S4W-01547 on 3 August 2011. The Scottish Government recognises the important contribution made by Scotland's town centres towards the achievement of its purpose of increasing sustainable economic growth. The primary responsibility and lead role in local regeneration and economic development lies with local authorities.

We are currently considering options for how best to use available resources to continue support for town centre regeneration as part of the wider Regeneration Strategy, which will be published shortly.

All answers to written parliamentary questions are available on the parliament’s website, the search facility for which can be found at:

http://www.scottish.parliament.uk/parliamentarybusiness/28877.aspx.

I refer the member to the answer to question S4W-04220 on 1 December 2011. All answers to written parliamentary questions are available on the parliament’s website, the search facility for which can be found at:

http://www.scottish.parliament.uk/parliamentarybusiness/28877.aspx.