Farmers Guradian
Topics
Nine ways to keep your farm vehicles safe

Nine ways to keep your farm vehicles safe

Arable Farming Magazine

Arable Farming Magazine

Dairy Farmer Magazine

Dairy Farmer Magazine

LAMMA 2018

New to Farmers Guardian?
Register Now
Login or Register
New to Farmers Guardian?
Register Now
New to Farmers Guardian?
Register Now

You are viewing your 1 free article

Register now to receive 2 free articles every 7 days
Already a Member?

Login | Join us now

Hopes for a Scottish credit union slashed

David Burrows reports from the Scottish Agricultural Organisation Society annual conference.


Twitter Facebook
Twitter Facebook

Plans to set up a new credit union for the Scottish farming sector have hit a brick wall in the shape of UK financial regulations.

 

For the past two years SAOS has been working with the University of Aberdeen on a new ‘financial intermediary’ to offer farmers access to ‘affordable, ethical financial products’.

 

The most likely model would have been a credit union, which has been used by farmers to great effect in many other parts of the world.

 

Through this mechanism farming families and rural businesses can deposit savings or short-term cash at reasonable interest rates, enabling others in the industry to borrow money on affordable terms for their own business plans.

 

But financial regulations sit with Westminster, and the ‘strict’ regime currently in place means a tailor-made credit union for the farming sector will not work.

 

 

Twitter Facebook
Post a Comment
To see comments and join in the conversation please log in.
Facebook
Twitter
RSS
Facebook
Twitter
RSS