Pioneer Mutual Credit Union
- Submitted by: Tom Arthur, Renfrewshire South, Scottish National Party.
- Date lodged: Tuesday, 31 July 2018
- Motion reference: S5M-13363
That the Parliament congratulates Pioneer Mutual Credit Union in Barrhead on its work with ethical loans; recognises that, in 2016-17, loans of £2.4 million were made to members, ensuring that wealth was retained in the community rather than being lost through payday lenders; welcomes the responsible approach to borrowing, which uses a loan calculator and only charges interest on the outstanding balance, rather than the full amount borrowed, and encourages people to join their local credit union and benefit from not-for-profit services that encourage saving what you can and borrowing only what you can afford to repay.
Supported by:
Kenneth Gibson, Jenny Gilruth, Bill Kidd, Richard Lyle, Fulton MacGregor, Ruth Maguire, Gillian Martin, Joan McAlpine, Stewart Stevenson, Maureen Watt, Sandra White