Our History

Our History

With support from Glasgow City Council, Glasgow Housing Association, Royal Bank of Scotland, Communities Scotland and others, we focus on the needs of those who experience difficulties accessing mainstream financial services. We work with Glasgow Central Citizens' Advice Bureau to provide integrated money advice services and consider this a key early intervention mechanism for interrupting the cycle of debt. Seeing the demand for a fair and affordable product in Glasgow has led to the UK wide expansion of Scotcash. Throughout the UK, many face difficult financial circumstances and Scotcash is aimed at tackling this:

It is estimated that between three million 15 to seven million 16 households use high-cost credit.

• It is estimated that between 3 and 7 million households in the UK use high-cost credit (FIC, 2017).
• The UK population saves less than almost all other countries in Europe, with 59% of households not currently saving (FIC, 2018).
• 1.5 million adults remain unbanked in Britain today (FIC, 2018). 
• An estimated two million people took out a high-cost loan in 2012 as they were unable to access any other form of credit (FIC, 2018).
• 31% of the population report one or more signs of financial distress (House of Lords, 2017).