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Holyrood hears American perspective


20 Jun 17

The Scottish Parliament’s Cross-Party Group (CPG) on Credit Unions has heard what lessons can be learned from credit unions in the USA.

Senior Vice President of Georgia’s Own Credit Union Eric Broome addressed the gathering of politicians, credit unions, stakeholders and supporters to call for continued backing for Scotland’s credit unions to provide ethical loan products and to widen consumer choice in the financial services sector.

He also highlighted the common challenges faced by credit unions on both sides of the Atlantic, including keeping up with technological advances, meeting consumer expectations and competition from new entrants to the savings and loans industry.

Eric was in Edinburgh as part of a credit union delegation from the US State of Georgia who were visiting Britain under ABCUL’s World Council International Partnership with Georgia Credit Union Affiliates.

NHS Credit Union Chief Executive Robert Kelly also addressed the meeting to highlight some of the insights and learning local credit unions have taken from this global partnership to date, including the importance of co-operation and the need to innovate and remain relevant to members’ lives while always maintaining the credit union difference.

CPG Convener Ruth Maguire MSP said: “I am hugely grateful to the representatives of Georgia Credit Union Affiliates for taking the time to share their experience and perspectives of the credit union sector. The strength of the credit union movement in the USA means that there is a lot to be learned through partnership and collaboration.”

“Georgia’s credit unions have a long history of international co-operation, having worked with Polish credit unions for more than two decades – and I look forward to a similarly successful partnership between Scottish and Georgian credit unions as we go forward.”

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