Credit Union set for the Machars

Stranraer Credit Union Limited has been granted permission by the Financial Services Authority to extend their Common Bond from Stranraer and District to the geographical area of Wigtownshire including Creetown.

A common bond is a fundamental requirement by the FSA’s regulatory regime and only those within the common bond area can be members of a Credit Union.

Margaret Burton, Chairperson of Stranraer Credit Union, stated, “The expansion of the common bond now means that those living in all communities in Wigtown District may become members of the Credit Union and enjoy the services it provides such as savings accounts and flexible, low-cost loans. Other services are currently being progressed which would benefit members and our next step will be to set up local collection points which will be staffed by local volunteers. Anyone wishing to join can contact the Credit Union on 01776 706911 or membership forms are available from the Credit Union office in Stranraer or Machars Action office in Wigtown. All savings with Stranraer Credit Union are secured by the Financial Services Compensation Scheme”.