Financial support to be given to credit unions

Woodhill House in Aberdeen where the meeting was held

Woodhill House in Aberdeen where the meeting was held

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Earlier this year at a meeting Aberdeenshire’s Full Council in June a decision was taken to allocate an uncommitted balance of over £200,000 (known as year-end flexibility) to support the work of local credit unions.

Members of the Policy and Resources Committee, last week reviewed the next steps and agreed to split the funding equally between two local credit unions, NESCU and Grampian Credit Union.

Aberdeenshire Council Co-leader, Cllr Richard Thomson said, “members of the Policy and Resources Committee recognise the support that Credit Unions provide to communities the length and breadth of Aberdeenshire. This money will help to ensure that they are able to support even more people in the future”

Co-leader of Aberdeenshire Council, Councillor Alison Evison had championed the cause of credit unions through Full Council in June. The decision made at Committee on Thursday came after discussions about the most effective allocation of financial support to the local credit unions.

Cllr Alison Evison said, “Credit unions can help people manage their money in increasingly challenging economic times, by providing fair and affordable financial services. By reducing problem debt, the work of credit unions can in turn help Aberdeenshire.”

“I am very pleased that Aberdeenshire has been able to support both the North East Scotland Credit Union (NESCU) and Grampian Credit Union in this way,”.