Firm lands three-year contract with one of the UK’s largest credit unions
Scott-Moncrieff has been appointed to provide internal audit services to one of the largest credit unions in the UK.
The business advice and accountancy firm, which has offices in Edinburgh, Glasgow and Inverness, will work closely with Capital Credit Union (CCU), which has more than 22,000 members and assets of more than £27 million, over the next three years.
CCU offers a broad range of competitive and ethical financial services including mortgages, loans and savings to anyone living or working in Edinburgh, the Lothians, Scottish Borders, Falkirk, Clackmannanshire, Fife, Angus and Dundee.
Mark McRae, partner at Scott-Moncrieff, which already represents a number of other credit unions throughout the UK, said: “This significant win reinforces our position as one of the leading providers of audit services to the main credit unions in the UK.
“This is a great achievement for the firm and it demonstrates the growing awareness of our services and quality of work within the sector.
“The potential is there for credit unions to grow, particularly as the gap between consumers and the traditional lending institutions widens and new software solutions enhance the service provision to investors and borrowers.”
There are currently around 420 credit unions in the UK, offering an alternative to borrowing from, or saving with, national banks.
Credit unions are owned and democratically controlled by members and provide a range of financial services including loans and savings accounts.