Bute members take share of record credit union payout

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Members of the biggest credit union in the west of Scotland are sharing in a record Christmas payout from its popular festive account.

The Christmas savings account run by Scotwest has nearly a hundred members in Argyll and Bute, who have saved almost £58,000 between them.

One, Alexander MacInnes from Rothesay, who has been managing his Christmas savings with the credit union since 2009, said: “Christmas is such a stressful time of the year, what with family, friends, parties and presents. Each year it seems like we spend more and more.

“Each week I pay a little into the account. It is amazing how it quickly adds up come November, when I receive my payout in time to cover the cost of Christmas.”

The total payout from the organisation’s Christmas account, which has 1,600 members, came to more than £1.1 million - the biggest sum since the account was launched in 2007.

Scotwest chief executive Rod Ashley said: “This is a phenomenal amount of money that our members have saved.

“Christmas is a wonderful time of year; however, it can be a difficult time for many, with the increased pressure of gifts, food and festive nights out.

“Each November, our members have their Christmas savings paid directly into their bank accounts, leaving them able to enjoy the festive period without having to worry about how they are going to pay for it, or dreading that financial hangover come January.”