§ Mr. McMasterTo ask the Secretary of State for Scotland if he will make a statement on the, development of the credit union movement in Scotland.
§ Mr. NelsonI have been asked to reply.
Based on the annual returns from credit unions to the Registry of Friendly Societies, there were 57 credit unions in Scotland at the end of 1990 with aggregate assets of £5,051,000, equivalent to nearly 30 per cent. of the total assets of the movement in Great Britain. Those 57 unions together had over 19,000 members, representing 35 per cent. of the total in Great Britain. Currently, there are 70 Scottish unions on the register which represent 20 per cent. of the total number of credit unions in Great Britain.