Launch Of New Money Saving Scheme At Provanhall Community Centre

Young people and adults in the East End have celebrated the launch of a new saving scheme by Provanhall Housing Association and Glasgow Credit Union (GCU).

River City star Stephen Purdon joined tenants of Provanhall Housing Association to officially unveil Save with Rent. The new saving scheme is a joint pilot plan run by Provanhall Housing Association and GCU.

The innovative format will allow tenants to become a GCU member and benefit from its range of services as well as allowing locals to build their savings wherever and whenever they pay their rent.  

Patricia Gallagher, director of Provanhall Housing Association, said:

"We are the first housing association in Glasgow to be running a pilot scheme of this kind and it is part of the much wider Financial Inclusion work we do with Greater Easterhouse Money Advice Project and the other community based landlords within the area.  The beauty of this scheme is that everyone who lives or works in Glasgow can have a savings account with GCU, so families can get their children involved and teach them the benefits of saving from an early age."

Local residents have volunteered as peer educators which has resulted in them completing a course in the benefits of the 'Save with Rent' scheme, allowing them to communicate the benefits of the saving scheme to the local community.

Stephen Purdon said:

"This is a great savings plan.  I remember it being drummed into me when I was wee that you should always save some money so that you could do or buy the things you wanted to, or just for in case of an emergency. It's something that has stuck with me since I started working."

Provanhall resident and peer educator, Jean Logan, said:

"This will make a huge difference to the local people.  I think it's important to have a local scheme that residents can get to know and trust, especially from an early age, to show the benefits of saving for a holiday or just for a rainy day.  I am sure that this will have a great impact on the community and local area."

June Nightingale, CEO of Glasgow Credit Union commented:

"Our focus at GCU has always been making fair, transparent financial services accessible to all.  'Save with Rent' is another way of reaching the local community, making it easier for them to manage their money.  What is great about this scheme is its simplicity.  Provanhall tenants will not only have a hassle-free way to save, but will have access to other services, like low cost borrowing, where previously they may have been targeted by high interest lenders.

"We are so pleased to be involved with such a progressive scheme in partnership with Provanhall Housing Association.  Already, we have received enquiries from other landlords interested in offering the scheme to their tenants."