That the Parliament recognises what it sees as the vital role that credit unions play in promoting financial stability and resilience of local communities, including in the Central Scotland region; acknowledges their contribution to providing affordable, locally-based financial services, including savings accounts and low-cost loans, which, it believes, protect individuals and families from predatory lending and unsustainable debt; considers that credit unions, as member-owned organisations, reinvest profits back into local communities, which bolsters local economic growth; celebrates the growth of credit union membership in Scotland with, it understands, over 420,000 members and over 100 credit unions; commends the work done by members present and past for their work to promote credit unions; notes the calls for MSPs and all public bodies to engage with the sector, and further notes the calls for continued support to ensure that credit unions thrive as a key pillar of Scotland's financial landscape and continue to deliver tangible benefits to individuals and communities.
Supported by:
Jamie Halcro Johnston, Paul Sweeney