Motherwell College Showcase for Excellence: College Credit Union

Motherwell College
Showcase for Excellence: College Credit Union
Motherwell College is one of the first colleges in the UK to host a student credit union
for its learners. Following a college-wide money advice project which advised
learners on topics such as money and debt advice, credit ratings, interest rates, the
importance of savings and handling debt, college staff recognised that providing
direct methods of supporting financial sustainability would greatly benefit learners.
The college-based credit union was launched in January 2008 as a result of a close
working relationship between a local credit union, college staff and learners on the
HNC Accounting programme. The new location of the college campus, has placed it
outwith the boundaries of the original credit union and has necessitated a change to
another one based in Glasgow. The provision of a credit union service within the
college means that learners and staff are able to save in an organisation that
supports the reduction of debt and promotes good financial management. The
service has been well received and well used by learners.
The college has also capitalised on this helpful service by using it to provide HNC
Accounting learners with work experience. They are encouraged to volunteer both in
college and in the host credit union offices. They operate the savings point once a
week, and in doing so gain valuable skills in sensitive communication with customers,
in citizenship and in employability. Many have also been involved with designing
promotional material and one learner has been employed by the host organisation.