News Article
Helping shape the future of Affordable Credit in Scotland
About SIS • Financial Inclusion for Scotland
Financial Inclusion for Scotland
About
About the group
Financial Inclusion for Scotland is a group of Scotland’s leading policymakers and professionals from the private, charity and not-for-profit sectors who have come together to tackle financial exclusion.
Our vision
Vision
Our vision is for easy access to fair loans, savings, insurance products and financial wellbeing tools for everyone – and the ability to acquire help when needed.
Group members
Report
Financial Inclusion for Scotland Strategy
In May 2024, Financial Inclusion for Scotland (FIFS) co-produced the first Scotland-wide Financial Inclusion strategy, which has seen many positive steps forward during its planned period.
Rather than immediately developing a successor strategy, the group is taking the opportunity to consider the implications of the UK Financial Inclusion Strategy and the opportunities it may present for Scotland.
Once this work has been completed, FIFS will work with partners to determine the most appropriate strategic direction for Scotland.
Campaign
Dormant Assets
Dormant assets are financial products, such as bank accounts, insurance policies, and investments, that have not been used or claimed for a long period. In the UK, these unclaimed funds are redirected to social and environmental initiatives through the Dormant Assets Scheme, while owners can reclaim their assets at any time.
FIFS has successfully campaigned for an expanded allocation of Dormant Assets to financial inclusion, leading the Scottish Government to revise its policy directions in respect of the Dormant Assets Scheme here.
In January 2026, Social Investment Scotland (SIS), as lead FIFS group member, was invited by The National Lottery Community Fund to apply for Dormant Assets funding as the organisation best placed to lead the affordable credit element of its Financial Inclusion priority. Read more here.
The £92,000 development grant will support consultation and strategic planning to create a clear, evidence-based approach for expanding access to affordable credit across Scotland. You can read more about the consultation process and partners here.
Supporting innovation in Affordable Credit
Social Investment Scotland was awarded £94,000 of Scottish Government funding to help credit unions introduce digital tools that identify unclaimed benefits and financial support for their members. The initiative aims to boost household incomes, strengthen financial resilience and improve access to affordable credit for people across Scotland.
FIFS played a key role in bringing relevant stakeholders and partners together to develop the funding proposition. The group has also delivered a series of webinars for credit unions, fintech providers and sector stakeholders to share implementation insights and accelerate adoption of the technology. Read more here.
Helping young people access banking in Schools
The Schools Banking Pilot demonstrates Financial Inclusion for Scotland's commitment to tackling financial exclusion at its roots by combining financial education with direct access to banking services for young people. Through collaboration between schools, banks and FIFS group member, Scottish Financial Enterprise, the initiative aims to improve financial confidence, widen access to mainstream financial services and create more inclusive financial futures for young people across Scotland.
Campaign
A Fair Banking Act
Financial Inclusion for Scotland supports the UK-wide campaign for a Fair Banking Act.
The Act would:
- Require mainstream banking institutions to disclose their performance on financial exclusion, within a transparent, publicly available, data disclosure framework.
- Create a system for clear ratings, that show which banks are doing well and which need to improve.
Find out more here.
Case Study
Caroline's story: Cash and the poverty premium
Some experience a daily struggle to access free cash in the UK. Many people are forced to rely on fee-charging cash machines. Whether you take out £5 or £50, the same fee is charged.
(Source: The Poverty Alliance/Fair By Design)
Case study
Elspeth’s story: Credit and the poverty premium
The poverty premium in credit exists because people in poverty pay more to borrow money. This is because people on a low income are more likely to have a low credit score and therefore be seen as more of a risk to lend to.
(Source: The Poverty Alliance/Fair By Design)
Related News
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Dormant Assets: A major milestone for Financial Inclusion in Scotland
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New funding helps credit unions put money back in members' pockets
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Community Lenders
Advice on affordable ways to borrow money
The mygov.scot website has some helpful advice available for those looking for affordable ways to borrow money. Many community lenders like credit unions or Community Development Finance Institutions (CDFI) offer affordable loans if you have a low income or are on benefits, as well as pathways to further support.