Credit Union launched at New Pitsligo

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Banff and Buchan MSP Stewart Stevenson officially launched the latest outreach facility of the North-East Scotland Credit Union (NESCU) at the Public Library, High Street, New Pitsligo on Monday.

With the launch of the New Pitsligo facility, NESCU now has 31 collection points across the area.

Launching the new facility, Mr Stevenson said: “It is excellent to have another Credit Union facility in the North East, here in New Pitsligo.

“Credit Unions are very much grass routes organisations that help people help themselves. People who have limited financial resources are those who we expect the most of in terms of financial management.

“Having a Credit Union is an enormous help to these people as the Credit Union helps people manage their finances. Finally, Credit Unions are perhaps the safest financial institutions available as they only lend to their own members, the people who have contributed and saved with them.”

Welcoming the new facility Ewan Hallardyce, chief execuitve of NESCU said: “Credit Union collection points are the life line of the Credit Union and it is thanks to volunteers like Lisa and Nicola that we can get the message across that saving is so very important.”

One of the volunteer workers at the New Pitsligo collection point, Nicola Grant, stated: “I volunteered after having been a member myself since 1997. The facility will be open every Monday from 10 am until 11 am.”

A credit union is a not-for-profit social enterprise, therefore any profit made is put back into the business. All credit unions are regulated by the Financial Services Authority (FSA).