Falkirk Credit Union’s 20 year success story

Local politicians got together with members to celebrate the 20th anniversary of Falkirk District Credit Union
Local politicians got together with members to celebrate the 20th anniversary of Falkirk District Credit Union

Thousands of savers have reached their financial goals thanks to Falkirk’s credit 
union, which celebrates its 20th anniversary this year.

There are currently 2233 adult and 524 junior members of the Falkirk District Credit Union based in Grangemouth and there have been many more throughout the years.

Viewed as an alternative to banks, they are not-for-profit organisations which are run by members.

Local politicians paid a visit to help members celebrate the milestone.

Linlithgow and East Falkirk MP Martyn Day, Falkirk MP John McNally and Falkirk East MSP Angus MacDonald, as well as representatives of Cabinet Secretary and Falkirk West MSP Michael Matheson, were in attendance, along with Credit Union director Malcolm Richards.

Mr Richards said: “It was indeed a privilege and pleasure to welcome the visitors.

“A large number of topics were discussed from collection points at schools, national publicity for credit unions and how the banking sector has affected them.”

Chairperson David Eadie, treasurer Anne Wallace and member Wendy Cockburn were also attended the meeting.

Angus MacDonald said: “I was delighted to once again meet with representatives of the Falkirk District Credit Union and to hear all about their achievements and concerns.

“I hope this type of meeting could become at least an annual event. My colleagues Martyn Day and John McNally share my views on this matter and we are all prepared to assist in any way that we can.”

The credit union was established in 1994 by a group of taxi drivers and was initially set up as a savings club.

The first loan granted was understood to be for £500 and was handed out in 1995.

In 2007 Westquarter Credit Union joined the existing savings group and the name was changed to Falkirk District Credit Union.

Grangemouth Credit Union transferred over in 2014.

Savings at the credit union are currently just over £1.6 million and loans granted last financial year totalled just over £848,000.

For more information about the credit union visit www.falkirkcreditunion.co.uk or telephone the Grangemouth head office on (01324) 473 695.