Dalmuir Credit Union has assured its members they will be given utmost co-operation to help them through hard times caused by Covid-19.

The credit union, which has 7,300 members, has pledged to support savers worried about how the pandemic will hit them in the pocket.

Spokeswoman Roseann Downie said: “We are currently supporting our members through this period of personal financial disruption, in particular where there has been a partial or substantial loss of household income, and want to assure members of our upmost co-operation.”

Roseann’s comments come as another West Dunbartonshire credit union sees savers rushing to draw out money.

Cathy Greig, chair of Vale of Leven Credit Union, says the level of withdrawals by families needing cash is “worrying” because in many cases it’s the only spare cash they have.

However, Roseann said Dalmuir CU had not seen a run on savings so far, apart from a slight increase in the week leading up to the restrictions being announced, as people prepared themselves for a lockdown.

She added: “We can appreciate that as the situation continues, and for a period of time beyond, people may have a need to utilise or draw on their personal savings to meet their financial commitments.”

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Dalmuir CU, along with credit unions throughout Scotland, is poised to share in a £20 million support package to help vulnerable families with the financial consequences of coronavirus.

The money is being made available from two Scottish Government funds that will ensure credit unions can continue their work during the pandemic and beyond.

It comes at a time when the organisations – often the only source of affordable loans for people in crisis situations – are also feeling the strain, as many members struggle to meet repayments.

The cash is coming from the Scottish Government Third Sector Resilience Fund and the dedicated Credit Union Resilience Loan Fund.

Roseann said: “We would like to say that we welcome all support being offered through the Scottish Government’s credit union resilience and business funding.

“As financial co-operatives operating on lower profit margins, all support for the sector is well received in moving through these difficult times and continuing to support our communities.”

The package is recognition that many of the people worst affected by the effects of coronavirus – for example taxi drivers facing a fares slump or those in the retail, hospitality or leisure industries – are often the people who rely on their credit union for affordable loans.

A mixture of grants and interest free loans will be available to credit unions from the government’s two support packages.