The man with a top role in the country’s finances gave the Highlands and Islands fastest growing financial institution his personal seal of approval yesterday.
Treasury chief Danny Alexander revealed he had already signed up to the Hi-
The senior Liberal Democrat officially launched the body’s evolution from a Western
Isles institution into a pan-
He said: “I have started a savings account myself and I am in the process of opening child saver accounts for my two daughters.“
Mr Alexander said that credit unions were helping the UK economy get back on track by promoting higher rates of saving and developing a culture of financial responsibility, where people understand the value of saving and the importance of financial prudence.
He told an audience at the launch in Stornoway said: “The success of the predecessor, Western Isles Credit Union, in just five years, shows just how invaluable your services are to the local community.
“This performance is especially impressive given the financial and economic environment that we have all been operating under in the last few years, and demonstrates how successful you have been in providing finance and support to local people when they need it the most.
“Indeed, across Britain credit union membership is increasing, with almost one million members in the UK, and 240,000 members in Scotland alone.
He said credit unions offer a vital financial source to communities and offered affordable credit at a local level for individuals.
Mr Alexander praised Hi-
Hi-
He said: “We have no fat cat external shareholders -
Treasury chief reveals interest in isles’ credit union 24/7/11
Jolene Macleod of Crossbost was surprised to bump into the Treasury boss when getting served by Emma Cameron at the credit union.