Financial education

One of the 4 objects of a credit union as laid down in the Credit Unions Act 1979 is:

The training and education of members in the wise use of money and in the management of their financial affairs.

Credit unions fulfil this object in a number of ways including inductions to new members, education sessions and providing written information. Credit unions work in partnership with other organisations to provide education to members and the wider communities in which they operate.

CONNECT Project - o The project worked to encourage and develop links between credit unions and Citizens Advice Bureaux so that people in need of money guidance can access the services they need.

Schools and Personal, Social, Health and Economic (PSHE) Education - Credit unions around the country work with schools to support the delivery of financial education. Children have been involved in running school collection points, forming shadow boards of directors and credit union staff and volunteers often welcome school parties for field trips or take one-off lessons around financial matters.

ABCUL commissioned a report, published in 2010, into credit unions' work in schools, which is available to read here.  Education Scotland has recently released resources for schools and credit unions looking to build such partnerships



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