Credit Union Presence - East Renfrewshire

Description

As part of its commitment to tackling poverty and providing affordable credit, East Renfrewshire has a commitment to supporting the presence of a Credit Union(s) back into the local area. With the impending closure (May 2025) of the last remaining bank in the town of Barrhead and serving broader communities of Neilston and Uplawmoor, the need for a Credit Union presence becomes even more compelling. East Renfrewshire Council and local community partners (e.g. Voluntary Action East Renfrewshire, ER Citizens Advice Bureau and Barrhead Housing Association) seek information from prospective Credit Union providers who may be willing to provide both an online and a part-time, face-to-face presence in the East Renfrewshire area, perhaps across a range of local communities. Lot 1: East Renfrewshire Council and local community partners (e.g. Voluntary Action East Renfrewshire, ER Citizens Advice Bureau and Barrhead Housing Association) seek information from prospective Credit Union providers who may be willing to provide both an online and a part-time, face-to-face presence in the East Renfrewshire area, perhaps across a range of local communities. The Council and its partners may be willing to provide a degree of support in the form of a contribution towards initial start-up costs or accommodation in a partnership site. To inform requirements-gathering and an onward business case, prospective Credit Union providers are invited to declare an interest in provision within East Renfrewshire and contribute to the following questions. Contributor organisations must be authorised and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Below are questions for prospective Credit Union providers. Please limit your response to each question to a maximum of two A4 pages each (n.b. it is expected that many will be much shorter). Responses should be sent to debbie.hill@eastrenfrewshire.gov.uk by 12 noon on Monday 14 April 2025. 1. Please give us some background on what interests you in this proposition within East Renfrewshire and what background you have in Credit Union provision. 2. How would you envision Credit Union provision operating within East Renfrewshire? Please cover scope for face-to-face and online provision, including initial proposals for days of coverage and opening hours etc. In the ideal scenario, there would be provision for face-to-face provision on a mobile basis across the East Renfrewshire area, although weighted more heavily towards Barrhead. 3. What do you see as the core client group and market for uptake of Credit Union services within East Renfrewshire? What evidence do you have for that? Do you have any current clients within East Renfrewshire? 4. How would this Credit Union service contribute to tackling poverty and improving wellbeing? 5. What would be your assumptions on volume of business required to ensure that Credit Union provision for East Renfrewshire could operate for the longer-term on a self-sustaining basis? 6. What, if any, support would you be looking for from the Council or its partners to support Credit Union provision in the local area? Through our partner organisations, we may be able to support co-location, but need to understand requirements. - Detail costs (Capital and Revenue); accommodation requirements; security/cash handling requirements; staffing etc. - Detail the contribution you would be seeking from the Council and its partners and for what period. 7. How quickly do you believe you could get up and running within East Renfrewshire? 8. How would you build networks with community partners and build your client base? 9. Please describe your approach to business model development, including your framework for risk management within the broader operating environment for credit unions. 10. Please give details on the governance framework your Credit Union operates within (e.g. overseeing Board).