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Chamber and committees

The Importance of Credit Unions

  • Submitted by: Stephen Kerr, Central Scotland, Scottish Conservative and Unionist Party.
  • Date lodged: Tuesday, 24 June 2025
  • Motion reference: S6M-18087
  • Current status: Has not yet achieved cross-party support

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