Media comment: The Scottish Government’s Credit Union Working Group report

Wednesday 10 February 2016

In response to The Scottish Government’s Credit Union Working Group report, Allison Barnes, Scotland Manager for the Money Advice Service comments:

“We welcome this new report published today urging employers to offer payroll deduction to employees and encouraging them to make it easier to set up regular savings with a credit union.

“We know that far too few people in Scotland are prepared for a financial shock, recent research we conducted shows that one in seven are over indebted and nearly a fifth of people are reliant on credit. It’s important to have a savings buffer which can help cover an unexpected bill.

“Encouraging people to engage with their money and motivating them to save is vital. This will enable them to plan ahead for future events as well as preventing them from turning to costly forms of debt.”

-ENDS-