People across Scotland are being urged to avoid debt misery this New Year by considering their local credit union if they need to borrow money.
Many people will be feeling the pinch following Christmas with credit card bills arriving on top of regular monthly payments.
Those struggling to manage their money at present may be tempted to see payday loans as a quick fix.
However, such creditors often charge interest rates of over 5,000 per cent APR.
Credit unions are restricted by law to lending at a maximum of two per cent per month (26.8 per cent APR).
John Travers has been a member of his local credit union since 1993.
He said: “I would definitely recommend credit unions to anyone looking to borrow money or save.
“There are still so many people who don’t know what credit unions are. I make sure to spread the word by telling new apprentices at my work considering loans to go the credit union, where rates and terms are much better.”