Craig Walker, the SNP candidate for Ward 14 (Glenrothes West and Kinglassie) for the forthcoming Fife Council elections has praised the work of local credit unions and believes they have a vital role to play, particularly in hard economic times.
Mr Walker commented: “The Credit Union model is there to benefit the local community. They promote easy saving and responsible lending and tend to be run on a not for profit basis, unlike most high street banks. Any money made by Credit Unions is returned to members in the form of a dividend.
“I would prefer to see local people gaining from financial services than the profits going into the hands of already well-paid banking executives and I would encourage anyone to look into joining a Credit Union. For many they alleviate the need to use payday loan companies and the like because they offer loans at much lower rates of interest to their members. The additional benefit is that all the money stays within the local community.”