At a busy meeting, the Board discussed and approved the 6-monthly Budget Review and Business Plan update. We also received our quarterly Compliance report and approved various policies.
We were pleased to note that March saw a significant increase in savings made by Scotwest members and that, in an effort to combat the rise in demand for payday lending, the Fast £500 Loan, which offers a quick lending decision, is now available to all Scotwest Members.
The Board were pleased to hear that our application to join the Building Society Association has been confirmed and we look forward to working with them.
We discussed the exciting changes that Financial Technology is bringing to the banking sector and how Scotwest can potentially use these new opportunities to continue leading the way in the credit union industry. We are sure these developments will be on the agenda for the Board Strategy Day later in the year.