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Chamber and committees

Motion ref. S5M-07817

International Credit Union Day 2017

Submitted by: Ruth Maguire, Cunninghame South, Scottish National Party.
Date lodged: Thursday, September 21, 2017

Supported by: Clare Adamson, Tom Arthur, Jackie Baillie, Colin Beattie, Ash Denham, Neil Findlay, Kenneth Gibson, Jenny Gilruth, Christine Grahame, Alison Johnstone, Bill Kidd, Johann Lamont, Monica Lennon, Richard Lochhead, Richard Lyle, Angus MacDonald, Fulton MacGregor, Rona Mackay, Ben Macpherson, Gillian Martin, John Mason, Joan McAlpine, Liam McArthur, Ivan McKee, Stuart McMillan, Gil Paterson, Gail Ross, Alex Rowley, Colin Smyth, Stewart Stevenson, Maree Todd, Sandra White, Andy Wightman

That the Parliament recognises that 19 October 2017 marks International Credit Union Day; understands that the event, which was first held in 1948, commemorates the credit union movement’s impact and achievements and aims to raise awareness of what credit unions do; notes that this year’s theme is Dreams Thrive Here, with a focus on illustrating how credit unions and other financial cooperatives serve as catalysts to make different professions, personal choices and career paths real; notes what it believes is the important role played by these not-for-profit financial cooperatives in providing effective and affordable financial services for over 217 million members in 105 countries; considers that they are a force for positive economic and social change and that they empower people and communities and encourage entrepreneurship; welcomes the 2016 manifesto commitments of all parties to strengthening and growing the role played by credit unions in providing financial services in Cunninghame South and across Scotland; further welcomes the commitment in the recent Programme for Government to provide continued support for Scotland’s credit union sector, including expanding the Junior Savers Scheme through 40 new school partnerships and delivering a national credit union awareness raising campaign, which will include collaborating with sector representatives to identify opportunities for targeted activity on funeral poverty; acknowledges the recent statistics from the Bank of England, which, it understands, highlight a decade of significant growth for Scotland’s credit union sector, with membership growing by 73%, lending expanding by 74% and the sector’s assets more than doubling by 149%; further acknowledges that the half a billion pounds now saved in Scotland’s credit unions compares with the £192 million the sector held in 10 years earlier, which is a massive increase of 160%; understands that, with 7.3 % of the population now using a credit union, Scotland has the fourth highest level of such membership in Europe, and wishes the sector continued success.