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SCVO Credit Union awarded £20,000 to meet growing demand

The SCVO Credit Union has been awarded a £20,000 grant by the Scottish Government to help it meet increasing demand.
The new money, which comes from the Third Sector Credit Union Fund, will be used to help the Union build capacity, capability and financial sustainability.  

Tom McVay, Development Officer with the SCVO Credit Union said:
“At a time when high street banks are cutting back on lending, SCVO Credit Union’s low cost borrowing is much in demand.  As well as borrowing, more and more customers are putting their savings aside with us, particularly with Christmas approaching.  Our members know that their money is both safe and ethically invested with the SCVO Credit Union.

He added:
“Given the rise in demand for our services, this new money from the Scottish Government is very welcome indeed.”

• The Credit Union is member-led but closely aligned with the Scottish Council for Voluntary Organisations – the national body representing Scotland’s voluntary sector.
• The SCVO Credit Union reached its 1000th member this year and has lent over 3.4 million pounds in the ten years it has operated.
• The SCVO Credit Union has nearly 40 Payroll Partnerships in operation where individual members enjoy the use of an ethical savings and loans facility.

For more information on SCVO, please see www.scvo.org.uk