Right Way Credit Union: serving the West of Scotland for 20 years

September 24, 2026

As Right Way Credit Union turns 20 this year, chief executive Karen Wallace explains to Laura Young why a credit union is as valuable today as it was two decades ago

Most of us already have a bank. A current account, a debit card, an app that buzzes every time we buy a coffee. So, when people hear the words “credit union”, a reasonable first thought is: why would I need one of those as well?

It’s a fair question, and it’s the one Right Way Credit Union is here to answer.

“We’re not here to replace your bank account,” says Karen Wallace, chief executive of Right Way Credit Union. “We’re here to sit alongside it. Think of us as another option, somewhere to put a little money aside, somewhere to borrow fairly if you need to, and a way to keep more of your money working in your own community.”

This year, that idea turns 20. Two decades ago, a small group of local people set out to help the Renfrewshire community benefit from having more options – options that support local families at affordable prices. Today, Right Way serves thousands of people across the West of Scotland region, but the reason it exists hasn’t changed.

“Our purpose is simple,” says Karen. “We believe everyone deserves the chance to feel secure about money and help to plan for their future, whatever their circumstances. Everything we do starts there.”

So, what actually is a credit union?

In plain terms, it’s a financial co-operative owned by the people who use it. There are no outside shareholders taking a cut. When the credit union does well, that value goes back to members and back into the community, not out to investors.

That’s the part Karen says people find genuinely different. “You’re not a customer to be sold to. You’re a member, and you’re an owner. It changes what we’re for.”

Where it fits alongside your bank…

You don’t have to move your salary or close anything to be part of it. Many members keep their everyday banking exactly where it is and use Right Way for the things it does best.

That might be a savings pot that’s a little harder to dip into, so it’s still there when the boiler packs in. It might be an affordable loan instead of high-cost credit when life throws up an unexpected bill. For some, it’s simply knowing there’s a local, fair alternative on the doorstep.

“People are often surprised that it’s not an either/or,” says Karen “You can have your bank and your credit union. We’re one more good option, not a replacement for everything else.”

Is it only for people on low incomes?

This is the biggest misconception, and Karen is keen to put it to bed. “Absolutely not. Our members are students, young families, key workers, professionals, retired folk, every income, every walk of life. Fairness and putting people first matter to everyone.”

And is my money safe?

Yes. Credit unions are regulated by the Financial Conduct Authority and the Prudential Regulation Authority, exactly like banks. Eligible savings are protected by the Financial Services Compensation Scheme up to £120,000 per person – the same protection you’d have with any UK bank or building society.

Elizabeth at the front counter, photo by Kat Sloan © Mill Magazine

Twenty years on

A lot has changed since Right Way opened its doors. What was once a small savings club is now a modern, digital, regulated organisation with online access and a growing range of services from Christmas Savings Accounts to large home improvement loans. What hasn’t changed is the thinking behind it.

“The technology moves on, the services get better, the community keeps growing,” says Karen. “But the ‘why’ is exactly the same as it was on day one, local people helping local people build something stronger together.”