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Teachers as Bank Managers: Credit Unions in Schools a Good Idea?

Discussion in 'Scotland - education news' started by morrisseyritual, Jun 16, 2015.

  1. morrisseyritual

    morrisseyritual Occasional commenter

    A representative of the Scottish Co-op was recently invited into our school and right from the off he suggested the school establish a credit union.

    I know that "proper" credit unions have helped a great many families in Scotland in the time of austerity but I fear for colleagues who may have bitten off a little more than they can chew. Who is going to maintain the books, balance them, be treasurer of monies accrued... it makes my head ache.

    Kudos for my colleagues in trying something new but I feel this is a risky situation. Any thoughts?
  2. Flyonthewall75

    Flyonthewall75 New commenter

    Are there advantages to be gained from schools setting up their own credit unions as opposed to staff simply joining the council credit union?

    Running a credit union with volunteer staff may reduce costs but are there sufficient school staff, with the right expertise, willing to take on the additional responsibilities and workload on a long term basis?
  3. inthered

    inthered Occasional commenter

    Parents run one in our place. But I think it's really a tuppence ha'penny scheme, not much money floating around our bit, it's more to try and convince the kids that putting a wee bit by can be a good thing come Xmas and there is an alternative to credit cards or loan sharks or whatever. Couple of kids help out too.

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