Scotland is currently facing a national housing emergency, with a record number of people currently in temporary accommodation. Housing pressures are being felt in every corner of the country, with the Scottish Government committing to build 110,000 affordable homes by 2032. This is an ambitious target and to realise it, it is essential that creative, strategic financial partnerships are explored.

Glasgow Credit Union’s commitment to supporting communities goes far beyond the conventional role of a credit union. With over 63,000 members, our organisation was built on the principle of service and benefit to members, which covers financial inclusivity, empowerment, and social responsibility.

Our recent partnership with Homes for Good embodies our values, providing a powerful example of how lending with an ethical purpose can directly impact people’s lives while strengthening the local economy.

The recent £2.4 million loan to Homes for Good will support the creation of high-quality, affordable homes for people who often face significant barriers in the housing market. This investment isn’t just about property acquisition—it’s about uplifting communities, supporting small businesses, and contributing to Glasgow’s ongoing economic development. By making this commitment, we’re investing in people’s futures, helping families to find stable homes, and fostering an environment where communities can grow and thrive.

This partnership combines financial prudence with social value, proving that lending decisions can have a transformative impact beyond traditional financial metrics. The success of this partnership is rooted in shared values: both partners believe in the power of community-driven solutions and the need to make a tangible difference in people’s lives. This is not merely a transaction; it’s a long-term agreement to improving access to housing, regenerating local spaces, and creating an inclusive rental market.

Lending, for us, means more than just offering affordable loans; it’s about supporting sustainable projects that align with our members’ interests and values. Since our founding, Glasgow Credit Union has sought out innovative ways to drive community benefits, whether through competitive rates, flexible financial products, or partnerships that support local organisations. By providing this loan to Homes for Good, we’re showing that lending can fuel societal good, addressing pressing issues like affordable housing while delivering fair returns. We hope our example encourages other lenders to take similar steps in forging partnerships that place social impact at the core.

The housing challenges in Glasgow and beyond are extensive, but they are not insurmountable. Many local authorities across the UK are calling for creative, practical solutions to address housing needs, and the financial sector has a crucial part to play. Working with social enterprises like Homes for Good, we can help meet these demands while aligning with our purpose to deliver member benefit, economic opportunity and community wellbeing. This is about investing with intention: focusing on projects that bring meaningful, positive change to the people who need it most.

We’re proud to help lead the way in rethinking what lending can achieve and to contribute to a future where financial services are an engine for lasting social progress. In a time when the housing crisis calls for bold and collaborative action, I am confident that similar partnerships will follow, underlining that ethical, purpose-driven lending is not just possible—it’s the way forward.

We’re excited to continue working with partners who share our values, and we remain committed to financing projects that embody the spirit of our mission to work on behalf of our members to strengthen communities and improve lives.

David Ross is CEO of Glasgow Credit Union