Scotwest and ACHA work together to encourage Argyll tenants to save » Housing » 24dash.com

Scotwest Credit Union has signed a deal with one of Argyll and Butes largest housing associations that will allow tenants to pay into their Scotwest savings accounts as they pay their rent.
Argyll Community Housing Association, which manages just over 5,000 properties across Argyll and Bute, is the first of the credit unions partner organisations to facilitate savings this way.
This is a positive step forward highlighting the commitment which both Scotwest and ACHA are investing into the local community. Together they want to provide tenants with a convenient and efficient way to save their money. This process allows tenants to save on a regular basis and provides an alternative to using banks and buildings societies.
Scotwest is one of the largest credit unions in the UK, and is currently targeting over 36% of families in Argyll and Bute who have no savings. Credit unions are not-for-profit organisations which exist to provide safe, competitive and fair financial services. Unlike banks and other financial institutions which exist to make money for their shareholders, any surplus funds within the credit union are returned to the members in the form of dividends on savings, competitive rates on loans and new and improved services.
Until recently, membership of Scotwest was only open to employees of partner organisations such as local Councils and Colleges of Further Education. However, thanks to the current members voting to amend the rules, now anyone in the West of Scotland including all Argyll & Bute residents can join and benefit from their services
Linda Gallacher, of Rosneath,is delighted that as a Scotwest member and ACHA tenant she can save money on an on going basis at any ACHA office. The busy 45 year-old, mother of three believes that this is an extremely sensible initiative. It has freed up a lot of her spare time and encouraged her to save money for special occasions.
Linda said: When I pay my rent each week I can save a small amount of money at the same time. It makes a lot of sense and it is very convenient. After paying my rent I am also able to judge how much money I can actually save.
Gillian McInnes, ACHA community development manager said: With over 5000 tenants in Argyll and Bute we have a close link with the community, many of whom are financially vulnerable. We are delighted to be working with Scotwest Credit Union and other credit unions in the area. We want to ensure that our tenants have the opportunity to look after their money safely and can take out a loan ethically and according to what they can afford.
There are a currently 1 in 5 people in Scotland living in poverty and a large number live in housing association homes. As a land lord we are therefore in a unique position to provide them with much needed advice and assistance. We want to help pull people out of this growing poverty trap. Our partnership with Scotwest is just one strand of our financial inclusion project which will help us achieve our objectives.
Rod Ashley, Chief Executive of Scotwest Credit Union said: We are delighted that ACHA have become the first partner organisation to join Scotwest. They serve a large number of people throughout Argyll and Bute, who are also members of Scotwest. We hope that we can work together and with other housing associations in the area to help their tenants save their money in a way which is safe, efficient and convenient.

Issued by the BIG Partnership on behalf of Scotwest Credit Union
For more information please contact either
Helen Wilson on 0141 333 9585 07762 177568
Emmy Young on 0141 333 9585 07824388514