 The next item of business is a member's business debate on motion number 1664 in the name of Ruth Maguire on celebrating international credit union day 2016. This debate will be concluded without any questions being put, so would those members who wish to speak in the debate please press the request speak buttons now. I call on Ruth Maguire to open the debate around seven minutes, please, Ms Maguire. In opening the debate, I would like to begin by thanking all the members who signed my motion that allows the debate to take place and all those who have stayed to take part. The role of credit unions in reducing poverty and the impact of financial worries is well recognised and has been described in reports by organisations from the Joseph Rowntree Foundation to the Social Market Foundation. I'm proud to mark international credit union day 2016, which took place on 20 October with this member's debate in our Scottish Parliament. International credit union day has been celebrated worldwide on the third Thursday of October since 1948 and exists to mark the achievements of the credit union movement to date, as well as to raise awareness and support for their work today and in the future. Owned and controlled by members and with membership based on a common bond, credit unions are underpinned by the co-operative ethos of people helping people and are committed to maximising the quality of service provided to members and not the extent of profit provided to shareholders. I've recently met representatives of step-change debt charity who do excellent work in my constituency of Cunningham South and, indeed, across Scotland. They told me that they often refer clients to credit unions and are strong supporters of their ethos and work and is a more sustainable and sensible way for people to get credit when they need it. As well as providing affordable loans with fader conditions and longer repayment terms than payday lenders, credit unions also empower communities and encourage individual entrepreneurship. Indeed, they are often termed community banks, a description which well reflects their nature and purpose. Credit unions provide effective and affordable services for over 217 million members across the world and, as a real force for positive, economic and social change, it's encouraging to note that they have a thriving presence here in Scotland. There are 103 credit unions in Scotland with a combined membership of over 383,000, which works out at roughly 7 per cent of the Scottish population, by far the highest percentage of the nations across the UK. Even more encouragingly, that current figure reflects a strong increase in membership in Scotland over recent years and a marked increase in junior members. I'm also pleased to note that several rich credit unions have recently participated in the UK Government-funded credit union expansion project to further develop their reach and impact. Six will now proceed to the next phase of the project, which will further develop and diversify their operating model, making them more competitive and efficient, including through a market-leading banking app and improved digital access channels. In my own Cunningham South constituency, the co-winning-based First Alliance credit union has been supporting a diverse range of savers and borrowers in the Ayrshire community since 2004. There are currently over 3,000 members with £2.3 million in savings and £1.9 million out in loans. I'm delighted to note that First Alliance has recently been awarded a five-star fair banking rating for its personal loans. I'm also pleased to share with the chamber that First Alliance is working constructively to deal with some of the challenges that are presented by welfare reform. Its partnership with North and South Ayrshire councils and six social landlords, in which the credit union has trusted partner status, for example, means that the services of the credit union can be utilised to help tenants in arrears or facing eviction. At the same time, it benefits social landlords as they are assured of the rent that they are due. The credit union also provides budgeting accounts for people who have problems managing their money, something that's proven extremely helpful in light of welfare reform, which has seen payments move from fortnightly to monthly for some folk, for example. I know that members across Scotland will be able to draw on excellent examples in the areas that they represent, and I look forward to hearing more examples of good practice in the course of this evening's debate. I applaud the support that parties across the chamber have given to credit unions in previous terms, and I welcome particularly the recently launched junior savers fund, which works with 10 credit unions to develop relationships with local schools. This progress is great, but there's still much more to be done to make Scotland even more of a credit union nation. It's encouraging to note too that the recent manifestos of every single party in this chamber included a commitment to supporting and expanding the role of credit unions in Scottish society. Equally, it's good to note the substantial cross-party support that was gathered by the charter published by the Scottish section of the Association of Scottish Credit Unions last year. Amongst other things, the charter calls for encouraging employers to partner with credit unions, improving financial health by encouraging regular saving and responsible borrowing, developing a stronger credit union presence in schools, and supporting and promoting the capacity of credit unions as providers of affordable credit in our society. I look forward to working with members across this chamber to achieve those aims during the parliamentary term ahead. I've finished just a little ahead of my time, so to end up, I'll just give a quick plug to the cross-party group on credit unions, which has already received good support from across the chamber. If anyone else wishes to join, they'd be most welcome. I now call Dean Lockhart to be followed by Neil Findlay. Thank you, Deputy Presiding Officer. Thanks to Ruth Maguire for bringing forward this motion and giving us the opportunity to celebrate International Credit Union Day 2016. This allows the chamber to discuss and to recognise the importance of the credit union movement for Scotland and for the people of Scotland and to highlight the future benefits that credit unions can deliver in Scotland. Credit unions in Scotland play a unique role in offering savings, loans and a range of services to their members that might not otherwise be available, or available on affordable terms. With a membership of approximately 387,000 in Scotland, credit unions play a leading role in their communities, and, as Ruth Maguire said, they are often thought of as community banks. Scotland benefits from a proportionately higher level of credit union membership than the rest of the UK, and indeed has the fourth highest level in Europe. I'm pleased to say that credit unions in Scotland have benefited from measures taken by the UK Government. For example, as Ruth Maguire mentioned in 2013, the UK Government announced an ambitious credit union expansion project worth up to £38 million towards the further development of credit unions across the UK, and many in Scotland have benefited from that. The credit union expansion project was designed to identify mechanisms to reduce the cost of lending, to assist credit unions to jointly develop new products and to implement a new operating system based on the same system used by a number of UK banks, thereby enabling real-time processing of payments and other transactions. All very welcome developments to widen the reach of the credit unions in Scotland. In my own region, Stirling Credit Union has been credited as being one of the most innovative and forward-thinking credit unions in Scotland. It was originally started in the late 1990s as a simple means for Stirling Council employees to save and borrow at affordable levels. Since it was established, it has expanded, and it is now a community credit union that includes individuals who work in Stirling, Clackmannanshire and areas of Lannarshire. The expansion of the Stirling Credit Union has been a very welcome expansion in the local community, and the credit union has recently been successful in encouraging local businesses to take up payroll-based savings schemes. Payroll-based savings schemes are important because it is often the case that those individuals who save in this way are better savers. The money that they save helps to improve their credit ratings and can help in other areas, for example, when those individuals are looking to save for a mortgage. The Stirling Credit Union has also established a junior savers scheme, something mentioned by Ruth Maguire, which has now expanded to include primary and secondary schools. I think that this is a very welcome step to introduce school children to finance and saving at an early level, so that in future life beyond school they are familiar with the concept of saving and finance. I offer my congratulations to the many people across Scotland who have made the credit unions a success. It is my pleasure to support the motion in the name of Ruth Maguire, and I look forward to supporting the continued leadership of the Scottish credit unions. Neil Findlay, followed by Ash Denham. Thank you very much, Presiding Officer. I thank Ruth Maguire for bringing forward the annual debate on credit unions. It is very welcome. I declare an interest as a member of the Blackburn and Seafield credit union, and my mum is a volunteer. We all understand that credit unions have been a great facility providing local and very much needed low-cost banking and financial services in our communities. Despite the best efforts of the previous chancellor to put some of the smaller credit unions out of business with his reforms previously referred to, they have overcome a very difficult period for some of them. In my region, the West Lothian credit union has just announced its £10 million worth of loans have been given out to the local community. A fantastic achievement in both myself and the Cabinet Secretary for Communities were delighted to attend their celebratory event. They and other credit unions are always innovating, trying to bring in new products, getting into schools, opening recently. They have a cash-tree account to help people to stop smoking, prepaid debit cards, free wills and loans at a much cheaper rate of finance than the likes of Provident, Wonga, Quick Cash and Home Bright. That is critical. Over 1.2 million members across the UK, more than 350,000 in Scotland. That is good numbers, but there is so much more we can do in terms of the untapped membership out there. Just 7 per cent of our population are members of these ethical financial cooperatives. That should be much, much higher. We need to create an atmosphere and a culture where credit union membership is the norm. Things such as baby accounts, children's accounts, young savers accounts, holiday loans, white goods loans, Christmas clubs, school clubs, mortgages and business loans for some of them. Those should and could be provided and taken up by so many more people, but that requires all of us to promote the credit union ideal and where possible follow our warm words for action and crucially budget. Invest in credit union development is truly preventative spend from which we will all benefit. I pay tribute to all credit unions across the world and to the people who, day in, day out in our communities, provide the essential lines of credit to our constituents, to our families and friends and indeed to ourselves. I will join in adding my thanks to Ruth Maguire for bringing this debate to the chamber so that we can recognise the great contribution that is given by credit unions. This year's international credit union day theme was the authentic difference and that was in celebration of the positive economic impact that the sector provides both in financial services and in social change. The continual growth of Scotland's credit union sector has led to an increase in membership. Credit unions are obviously owned by their members, they are controlled by their members and because they are owned by their users compared to other institutions that are owned by stakeholders and investors, credit unions put their emphasis on providing the best possible service to their members instead of just increasing profits. The most recent figures published by the Bank of Scotland revealed that Scottish credit unions have over £562 million in assets, £296 million in loans out to members and £484 million held in savings. Credit unions are also protected by the financial services compensation scheme, which gives assurances exactly the same protection as would be afforded to money held in a normal bank. Scotland's credit unions should rightly be recognised for the work that they do and their success both here in Scotland and in a wider global context. Among the 100 credit unions in Scotland, there is a membership, as has already been said, of over 387,000 and that 7 per cent of the population, which should be noted, is higher than in the rest of the UK, so it shows that the uptake in Scotland has been quite positive. The Association of British Credit Unions accepted the Outstanding Membership Growth Award from the World Council of Credit Unions recently in 2015. In February this year, the Scottish Government published a report on the work of Scottish Credit Unions. That report highlights the success of Lanarkshire Credit Union's Savvy Savers project, a very complex project in which they were able to help over 7,000 primary and secondary school pupils save over £650,000. Savvy Savers works in 74 different primary schools and five secondary schools in South Lanarkshire. They are also able to employ full-time school project workers to promote the education of financial responsibility and forward planning and money management in effort to tackle poverty. That is just one example of the way in which credit unions can work with schools to increase future generation's financial awareness. The Association of British Credit Unions last year produced a Scottish charter, and in that it suggested that changes that we, as parliamentarians, could make to help Scotland to become a credit union nation. It made suggestions such as that we could encourage all members to partner with credit unions to make savings and repaying loans via payroll deduction, a standard workplace benefit for all people across Scotland, and that we promote credit unions as providers of affordable credit for people from all walks of life. I think that those are some very good suggestions that we could take forward. In this chamber it is also obviously important that we recognise our local credit unions. In my constituency of Edinburgh East, I have the castle credit union, and I know that they have been working hard to help the community flourish. As our local credit unions grow, more money is brought into communities, and that is a benefit to all of us across Scotland. It is with great pleasure that today I participate in this debate, and let me at the outset also thank Ruth Maguire for bringing forward this motion and giving Parliament the opportunity to express our appreciation and raise awareness of the critical work the credit union movement is doing, both in Scotland and internationally, and what a movement. Having begun in around 1852 or perhaps even 1844 on one analysis, with a simple idea that people could pool their money and make loans to each other along the principles of cooperative interdependence, a community first mentality and a volunteer management structure, I note that now there are perhaps 57,480 credit unions in 105 countries around the world. Collectively they serve 217.4 million members and oversaw 1.79 trillion US dollars in assets. With that international footprint, International Credit Union Day, which took place on 20 October, is vital, not merely to reflect upon credit union history and achievements, but also to promote the credit union ethos and raise awareness. It is a day to honour those who have dedicated their lives to the movement, to recognise the hard work of those working in the credit union industry and show the appreciation of the members. I note interestingly that the actual first credit union day was 1927 on the birthday of America's apostle of thrift, Benjamin Franklin, who early credit union founders believed symbolised the life and teaching embodied in the spirit and purpose of credit unions. That day only folded because people were too busy to celebrate. The motion asked for commemoration of the impact and achievements of credit unions. I note that, since the credit unions act was passed in 1979 to give a common regulation framework for the movement, the credit union philosophy of mutual self-help has gone from strength to strength. At the macro level, over 1.2 million members in the UK have now recognised the value of credit unions and have savings of approaching £1.1 billion with them. In Scotland, as we heard, there are about 100 credit unions, with a combined membership of over £383,000, about 7 per cent of the population, as he said. I cannot speak about Cunningham South as the motion requests, but I can speak about the north-east. Drilling down into the north-east region, Angus, Tave Alley, Dundee, Grampian, north-east and St Macker credit unions provide a vital service, offering easy access savings accounts and, ultimately, given the interest rate cap at 3 per cent per month on a reducing balance, a responsible alternative to the high-interest payday loan companies, which can place individuals and families under a burden of debt for many years. The largest credit union in the north-east, the Grampian credit union, is one of the leaders in Scotland with innovative savings schemes and loan programmes. It leads the way in the field of payroll savings schemes, with more than 30 companies and organisations, including NHS Grampian, Aberdeen City Council, the VSA, the University of Aberdeen and the Aberdeen Foyer, all signed up to their staff-saving schemes, schemes that have been proven to be an easier way to save and that evidence has shown makes better savers. It is clear to me and, judging by the contributions from around this chamber, everyone here, that credit unions really do make the authentic difference. Although those of us in the chamber often have authentic and deeply felt differences, I have no doubt that, in supporting that motion, like the credit unions themselves, we share a common bond. Ivan McKee, followed by Claudia Beamish. I, too, welcome the opportunity to take part in this debate on international credit unions and thank Ruth Maguire for bringing this issue to the Parliament today. The debate gives us the opportunity to celebrate the credit unions' impact and achievements in Scotland and worldwide. It also gives us the opportunity to raise awareness of the work of credit unions and to encourage more people across Scotland to become members and to utilise their services. Scotland has a long history in financial services and Scotland also has a proud record of community spirit and co-operative ventures. The credit union movement brings both of those together, benefitting many people across our society and providing benefits to our economy. Scotland's credit union movement is growing now with more than 100 credit unions across the country with a total membership of 388,000 members and managing savings worth more than £400 million. In my constituency, several credit unions operate in Easterhouse, Hackhill and Deniston, Cranhill, Cairntyn and Ridry. All of them provide local services to support people who often may not be in a position to benefit from standard banking or financial services. I am a member of the Glasgow credit union, one of the largest in the country. Scotland needs a variety of financial service offerings, ensuring that all people in society can access both savings and lending services suitable to their needs. Credit unions offer that complementing traditional services. Credit unions also have the great advantage of typically operating with a local focus and with ownership structures based on co-operative principles, giving them resilience and a firm grounding in the communities that they serve. New models of saving and lending are an important part of ensuring the financial health of all in society. That is recognised by the Joseph Rowntree Foundation, who recommends credit unions and their role they can play in reducing poverty. Credit unions are more than a service to borrowers and savers. A thriving and growing credit union sector in Scotland can play a major role in bringing more people actively into the economy, building strength and resilience in areas that are too often excluded from economic activity. They provide a role in supporting entrepreneurship and the development of micro-businesses across Scotland, something that our economy as a whole needs to drive our aspirations for inclusive growth. As the motion also clearly reminds us, credit unions are an international phenomenon. One of the most famous is Grameen Bank, founded in Bangladesh by Mohammad Yousaf Yunus. He later awarded a Nobel Peace Prize for his work in establishing micro-credit facilities among poor women in Bangladesh, showing that the financial services model used by credit unions can deliver results in supporting financial independence for the most marginalised groups. I worked in Bangladesh at the time when Grameen Bank first achieved international recognition in what is first-hand the tremendous impact that it had on individuals and communities. Scottish Governments of all persuasions have over the years provided support to help develop the credit union sector, and all parties support taking steps to encourage future growth of the sector. The credit union movement in Scotland looks for support in a number of practical ways, encouraging employers to engage with the movement to offer payroll reduction services for employees for savings and loan repayments to credit unions, encouraging schools, colleges, and universities to teach about credit unions and financial management. The significant rise in young people becoming members of credit unions is to be welcomed. Early education and financial management and the co-operative principles is a benefit to our society and economy and promoting credit unions and supporting the development of their capacity to play a more substantial role in offering financial services. By raising awareness of credit unions through debates like this, we can all play our part to help make Scotland a credit union nation. Claudia Beamish, followed by John Finnie. As other members have done, I thank Ruth Maguire for bringing this member's debate to the Parliament today to mark international credit union day. I look forward to working with her in her role as convener of the credit union cross-party group. I am particularly pleased to speak in the debate as a new deputy convener of the reformed credit union cross-party group and also as a member of the Scottish co-operative party MSP group in the Parliament. As you will all know, credit unions are co-ops, and that means, of course, as we all know, they are owned by their membership, but this is a very inclusive model, which is very significant and important. Obviously, the main re-emphasis will always be on providing the best service for members and not for profit. Firstly, in my remarks, I would like to wish Lanarkshire credit union a happy 25th birthday. I am looking forward to attending their birthday party on Friday night to help them to celebrate all the hard work they have done over the last 25 years. After a long week this week in the Parliament, I am definitely going to look forward to some cake at the party. We all know the importance of credit unions in Scotland today. In difficult financial times, they not only help people to save for the future, but they help people when they are most in financial need. Joanne Lamont. Thank you very much for taking the intervention. I wonder if the member is aware of the Wee Glasgow loan initiative, which is Glasgow City Council, along with Pollock Credit Union, BCD Credit Union, offering people low-cost loans to ensure that they are not preyed upon by pay loan lenders. I agree that that is the kind of initiative that we would hope to be supported across the country. Claudia Beamish. I thank the member for that important intervention. The issue around payday loans has also been highlighted by some other members tonight. Some of the heavy advertising seems to have diminished a bit on the television about those things, but it is really shocking how they prey on vulnerable people. Credit unions are, though, truly for everyone. You will be joining a credit union through your work or going to your local credit union to get a loan. You will be joining the other 387,000 people who are already a member in some way, shape or form. It is true to say that many people are only a few pays away from being in financial trouble across Scotland, and being a member of a credit union can help you prepare for the unexpected. At the start of the year, I was delighted to visit the newly established outreach branch of the Lanarkshire Credit Union, which is open in Carlouc. Lanarkshire Credit Union worked closely with the local community council to provide a service to the local people who did not necessarily know about credit unions in the past. That has enabled them to use the facilities without the geographical challenges of setting up a permanent office and with the help of volunteers, which is often the case in credit unions, and should be recognised tonight. I do think that we need to be mindful of people in rural areas where geographical difficulties can indeed occur. I was however pleased to meet with Alison Dowling from the Capital Credit Union this summer, and the common bond area covers Midlothian and the Scottish borders in my region and in the ministers. She was telling me that even though there was a difficulty of setting up an actual outreach, like in Carlouc, in the borders, people in that area could still be members and such things as online banking and payroll deduction meant that it is easier to join a credit union. Lastly, I would like to speak very briefly about the support for young people, which has been mentioned also by Ash Denham and others tonight. I was pleased to read to be competitive about it that Scotland has seen a higher growth in junior savers compared to other parts of the UK. Ash Denham has already mentioned about the Lanarkshire Credit Union as well as teaching about debt and how to manage finances. That is done in a fun way. I hope that there will be other parts of Scotland where that is already happening too, and the sharing of models can be invaluable. The cross-party group can certainly help with that. I think that tonight has brought forward a whole lot of suggestions for future agendas, which is very exciting and valuable. The theme of this year's Credit Union Day was, as we have heard, the authentic difference, celebrating the positive impact that credit unions have on financial services and social change. I truly believe that they have a lot to celebrate. John Finnie, to be followed by Clare Adamson. Thank you, Presiding Officer. I thank everything that I have brought in this important motion to us tonight. The motion talks about commemorating the impact on that significant of credit unions and the achievements, and I would say that that is many. Like others, I declare an interest. I am a member of the Scottish Police Credit Union, indeed, in the roll-out from what was formerly the Strathclyde Police Credit Union. I was the first member of the north of Scotland as we trialled the system of payroll deduction. I think that that is an important part of encouraging membership if we can have employers play a role in deductions from salary. I think that the significant strength of the credit union system is the common bond, whether that is one of geography, where often credit unions play a significant role or one of the bond within the workforce and, again, commend the work of trade unions and staff associations working with employers in connection with that. The ethos that has been mentioned, people helping people, well, that to me is highly commendable. Not-for-profit co-operative seems to me to be a very attractive basis for going about business with the benefits retained and indeed shared. It has been highlighted by Ash Denham and, indeed, Claudia Beamish, the phase authentic difference. What a contrast, what a significant contrast with the banking industry, none of whom are likely to win the fair banking award that was referred to. That once honourable profession largely discredited by greed and actually the complete reverse of the ethos that underpins the credit union. It is about effective and affordable financial services and the motion details the global reach. I was particularly in a day when we all had a lot to say about the United States. I thought that it was very compelling to read that US employers can offer credit union membership as a condition of employment, which I thought was an interesting departure of what some might expect. The reach that I am particularly interested in is the reach into some of our more vulnerable communities and the accessibility and the role of volunteers. Colleague Neil Finlay talked about the volunteer role. I certainly know in my own area that there is a number of credit unions and the fact that they would pitch up at the local community centre at a known time is an important factor. I welcome an increase in membership, particularly as a number of other people have said, the junior membership. If that leads to a lifelong connection with the credit union movement, that can only be good. Why is that important? It is important because of the attitude to money. The savings are respected and it is responsible and non-exploited of lending. I am particularly delighted that this is a non-party political issue. I commend the comments from Conservative colleagues. The fact that it is a part of every party's manifesto is significant and shows that people do recognise a force for positive and economic change. Another factor that we cannot lose sight of is the fact that it empowers people and communities. The motion talks about a growing role that is capable of more. Historically, the credit union movement has come up against resistance from the big banks. We have heard of the excellent work that has been done to counter payday loans and store cards to encourage people to not only borrow but to save as they borrow. There is a valuable part of civic Scotland, a very ethical part of civic Scotland, and I am grateful for the opportunity of speaking tonight. The last of the open speeches is Clare Adamson. Thank you, Presiding Officer. I declare an interest as a member of Capital Credit Union. I congratulate Ruth Maguire on securing the debate this evening and on the re-establishing of the CPG on credit unions, a very well-respected CPG from the previous term of the Parliament. I am really glad that the Scottish Government is giving about £200,000 of funding to support credit unions in establishing schemes in schools and helping children to understand the importance of saving and managing money. That is so vital in our communities, especially since it is often the most vulnerable people, the people that find it most difficult to balance their checkbook that can get the greatest advantages from a credit union in their community. Lots has been said this afternoon about the benefits of credit unions and I want to thank the Association of British Credit Unions Limited for their briefing for today's debate. I also want to talk about the Scottish League of Credit Unions, a smaller league of credit unions, one that works closely with one of my local credit unions, Wish a Credit Union. The strength of the league is that it supports community-focused credit unions in whatever stage of development they are at. It will recognise and respect the different needs and aspirations of individual credit unions and it will not seek to impose a particular model on its members. I think that has come out so much in the debate this afternoon, that credit unions are of their community. Some will do outreach, some will do different types of work and it was really interesting to hear about the anti-smoking projects from Neil Findlay earlier on. Neil Findlay also mentioned the volunteers and I think that this is hugely important and why engaging with our young people is so important because the volunteers in our credit unions are aging, unfortunately, and we need young people to come on board and fulfil that role as well. The Scottish League of Credit Unions concentrates on key themes of education through group training sessions and materials that are provided to their members. It gives advice in the legislative compliance and financial issues. It offers the network for other credit unions to come together and share good practice. Fotilisation for members of credit unions will co-ordinate with one another to achieve common goals and it represents the group at local Scottish UK Government and other credit union organisations and promotes credit unions in our constituencies. I think that this is really important. Credit unions are so different. They approach people differently. If I could just mention one in your own area that I covered previously in East Kilbride, when you go on to their website, they welcome everyone, they give a commitment of their vision, of their mission statement and their commitment to the members who come to them. This is so important because credit unions are now financially secure. They now have the financial services associated with them and are covered by the Prudential Regulation Authority and the Financial Conduct Authority. We know that this is really important because payday lenders have been mentioned already and how they pray on people in this situation. I also remember the collapse of the fair pack saving scheme where a banking technicality for those who have paid a direct debit were able to recover some of their money but many people lost money in a savings scheme that they thought was safe for them. It's really important that that financial security of the credit unions is out there but this also puts a burden on the volunteers. They have to know financial regulation and they have to take part in modular training schemes for the Institute of Chartered Bankers and this costs money and that money is used from the members to train people and volunteers and I know that this is a concern going forward because we want these organisations to continue to be sustainable and provide such a wonderful service that they do in our communities. I now call on the minister to close the debate up to seven minutes please. Thank you. I want to thank, as other members have done, Ruth Maguire for lodging her motion and we have had some excellent contributions from across the chamber and like John Finnie I'm delighted to see a genuinely cross-party motion and indeed a cross-party debate today because credit unions do play a vital role in our economy providing a range of ethical financial products, as we've heard and services to a wide range of customers many of whom do face financial exclusion. I too offer my congratulations as others have done for all those who have developed the movement in Scotland and indeed to wish Lanarkshire Credit Union a happy 20th birthday if Claudia Beamish is attending the birthday party. Credit unions are a part of a dynamic growing and increasingly global movement for change. A number of members have made that point Liam Kerr, Dean Lockhart and others have made that point. The World Council of Credit Unions estimates, as we have heard, there are now approximately 60,000 member-owns not-for-profit financial co-operatives worldwide and it is important the co-operative model that Claudia Beamish has highlighted for the benefit of the members on the not-for-profit basis of their approach and ethos. Of course, as Ruth Maguire and other colleagues across the chamber have recognised, Scotland has a good pedigree when it comes to this more inclusive way of doing finance and in fact, for more than 45 years credit unions have proudly served our communities providing members from all walks of life with more than basic financial services. As Ruth Maguire and Ivan McKee refer to Joseph Roundtree foundation, I pointed to the role of credit unions in reducing poverty. In my new role I have been pleasantly surprised to learn as others have highlighted today that a significantly higher proportion of people in Scotland are enrolled in credit unions in Scotland than in England and Wales and as the Bank of England data that has been referred to and a number of members have cited the 7 per cent in Scotland the comparable figures are 2.6 per cent for Wales and 1.5 per cent for England so I think the sector really deserves a lot of credit for its reach in Scotland and identifying a need and exploring that and also indicates there's great potential for growth in England and Wales as well so it's important to highlight on the occasion of a world event to celebrate the role of credit unions that there's great potential as Neil Findlay put that there's great room for expansion further but today around 100 credit unions are operating across Scotland as we've heard with a combined membership of 387,000 assets of 560 million and aggregate lending of 296 million to the members or at least those are the figures I have to hand and therefore it's right that the Scottish Government is committed to working with credit unions to support and promote this important work and that is why the Scottish Government established the credit union working group in October of 2014 under the chairmanship of my colleague Fergus Ewing who was the time minister for business energy and tourism and that group included credit unions their representative bodies, advice services and the accountant and bankruptcy and it considered a wide range of topics and identified two key priorities for strengthening Scotland's credit union movement the first priority identified was to help credit unions to play a fuller role in the delivery of financial education we've heard some great examples of that today and the second priority was supporting the expansion of payroll deduction schemes as a standard workplace benefit a point referred to by Ruth Maguire, Dean Locker and many others today in this debate turning to financial education is vital and I agree with members who have raised this point that children grow up with an understanding of money and saving and junior savers schemes run by credit unions in partnership with schools are a really excellent way to teach children aspects of numeracy and social studies in a real world context as well as helping them to develop a culture of saving and responsible borrowing ultimately and indeed as Claudia Beamish has highlighted it is really great to see such positive growth in Scotland in junior savers those schemes embed a savings ethos amongst pupils at a young age by holding regular collections of children's savings in the school and often with the incentive of saving towards a school trip or another savings goal as well and by running those schemes credit unions play a vital role in helping to educate children in money matters often incurring a financial loss so I think we should recognise the contribution the credit unions do to provide that and not always without cost to themselves and delivering on the credit union working group's foundation to explore the development of junior savers schemes the Scottish Government announced a new £300,000 funding scheme in March of this year aimed at supporting credit unions to develop sustainable junior savers schemes in schools across Scotland and credit unions were invited to bid for funding over the summer and in September the Cabinet Secretary for Communities, Social Security and Equalities announced that 10 credit unions are set to receive Scottish Government funding to launch new junior savers schemes across the country aiming to set up at least three new junior savers schemes in their local community and the Scottish Government will work closely with them to share learning from these schemes with the sector. Funding is also being made available to support the production of a junior savers toolkit which is being co-produced in partnership with the credit union sector and Education Scotland and this toolkit will bring together best practice providing a useful resource for all credit unions in Scotland well beyond the life of this funding so hopefully it will have a legacy value and education Scotland as a key partner we will ensure that the toolkit is consistent with the curriculum helping people to develop a broadly based financial capability focusing on understanding, competence, responsibility and enterprise and this in turn certainly will Willie Coffey is co-convener of the cross-party group in co-ops I'm delighted that you recognise the close connection between credit unions and the co-op movement would you similarly acknowledge that the world's first recorded co-op was established in FENIC in my constituency in 1761 some 83 years before Rochedale which is a continuing source of pride for my constituents in FENIC Yes indeed a round of applause for FENIC I'm delighted to acknowledge that there's such a long history in East Ayrshire and I welcome Willie Coffey's remarks in support of FENIC Each credit union is aiming to to set up at least three schemes and in terms of the scope they will also in turn make the offer of junior saver schemes even more attractive to schools Turning to payroll deduction and I think Ash Denham and a number of others have referred to this in the context of the authentic difference and I think it's in a really important role the second key priority identified by the credit union working group is around supporting the expansion of payroll deduction schemes and we know that credit unions see payroll deduction schemes as a key to ensuring a more sustainable future such schemes offer a convenient way for employees to save into a credit union account directly from their salary in turn they do help credit unions to build a wide and varied customer base of borrowers and long term savers as well and in order to further the same and demonstrate support for credit unions the First Minister has written a letter encouraging employers to partner with a credit union to enjoy the benefits of payroll savings for both staff and the organisation which is available for credit unions to use and the Scottish Government's business pledge also includes a recommendation to employers under their workforce engagement commitments to offer payroll deduction savings as a standard workplace benefit as well and yet another reason to encourage the business pledge but following a recommendation by the credit union working group report in coming months the Scottish Government will develop a package of resources for credit unions to use when engaging with employers to make setting up payroll deduction schemes a smoother process for all parties and an excellent way of bringing a wider benefits to the workforce and Scottish Government employees can take advantage of payroll deduction and last month on international credit union day we invited our credit union partner into the Scottish Government offices to raise awareness of this important employee benefit for all our staff I also want to just hide it very briefly before closing the point that relates to a number of references that John Finnie and others have made to access accessibility that is happening at a time when we are seeing a contraction in bank branches and credit unions at which are locally based, community based or workforce based will have an ability to extend the reach of financial services to those who are being affected by branch closures the Scottish Government is committed to improving financial wellbeing and reducing income equality to create a wealthier and fairer Scotland for all its citizens I'm delighted we've had such a positive discussion today around the role of credit unions in that capacity we recognise across this chamber the huge contribution credit unions make by providing responsible and ethical financial services which strengthen the financial capability of communities and change individual lives for the better as a number of members have said and we will continue to support this important work and indeed to raise the profile of the credit union movement in Scotland Thank you very much