A busy meeting last Monday saw the Board approve the Scotwest Strategic Business Plan and Budget. We also approved a range of updated policies, received a report from the Nominations Committee and a were given an update on a project we are working on to make affordable finance more widely available. This is being done in conjunction with other community lenders and Experian and we look forward to telling you more about this in the months to come.
Due to the ongoing pandemic situation and subsequent government restrictions we have continued to see a reduced demand for borrowing from our members and, in turn, a significant reduction in income. The Board have therefore agreed that it is prudent to maintain a 0% dividend till the end of the year. Members are assured that the Board are monitoring this closely and are aiming to be able to resume payment of dividends next year.
