CREDIT UNION SGEI FUND
From April 3, 2006, applications may be made to the Executive to access funding from the Credit Union SGEI Fund of £400,000 per annum for the years 2006/07 and 2007/08. This funding compliments the SGEI approval scheme and will be available to any SGEI approved Credit Union in Scotland who develops and offers one or more of the 4 SGEI products. The Credit Union SGEI fund will focus funding on financial inclusion activities. There is a minimum award of £70,000 and a maximum of £200,000 over the 2 year life of the fund. Awards would therefore be over the de minimis limit and large enough to give significant backing to ambitious schemes such as loan guarantee funds.
It should be noted that approval under this scheme, from Communities Scotland, does not guarantee funding - this is a separate decision.
The guidance notes, a checklist and the application form are all available online.
http://www.communitiesscotland.gov.uk/stellent/groups/public/documents/webpages/cs_015217.hcsp
Details of the funding received by SGEI approved credit unions is available online.
For further information, please contact Guthrie Handley on 0141 305 4172.