Scotcash Annual Report 2021-22 - Report - Page 13
2020-21 ANNUAL REPORT & FINANCIAL STATEMENTS
2020-21 ANNUAL REPORT & FINANCIAL STATEMENTS
Scotcash facts and
figures 2020/21
Customer
case study
1st April 2020 – 31st March 2021
Overall Accrued Totals
1,612
32,146
Value of loans advanced
£866,836
£14.7m
Interest saved for customers
on like-for-like loans*
£370,760
£7.4m
304
n/a
Loans written
Financial capability advice**
*average savings £230 per loan
**October 2020 – March 2021
It’s a rewarding job but with a
monthly salary of £800 to £1000,
depending on overtime, any
unexpected or large bills can be
a big challenge. Mary first heard
about Scotcash five years ago
from a friend. Glasgow Housing
Association had recommended
Scotcash to Mary’s friend, who’d
had a positive experience with us
– and Mary’s friend suggested we
could help her too.
Customer profiles
Gender
Employment status
Household status
Occupancy status
70% of Scotcash customers
described themselves as
female and 30% as male:
During 2020-21 over a third
of Scotcash customers were
working either part-time or
full time:
More than half (53%) of
customers were from a
household with children:
Nearly 9 out of 10 (85%)
of Scotcash customers in
2020-21 lived in rented
accommodation:
Female
Male
Lone parent with children - 39%
Full time employment - 26%
Couple with children - 14%
Part time employment - 11%
Single adult - 42%
Renting from housing
association - 42%
Unemployed - 51%
Couple with no children - 6%
Renting from council - 28%
Renting from private
landlord - 15%
Incapacitated - 9%
Retired - 3%
How customers heard about us
1st April 2020 – 31st March 2021
Existing customer
48.1%
Internet
20.9%
Word of mouth
12.2%
Other – varied sources
14.6%
Page 12
At the time Mary needed a small
loan and visited Scotcash’s
branch where she went through
the application process with an
advisor. “I had to submit bank
statements and answer questions
but the advisor went through
everything with me and explained
why Scotcash needed all the
information,” she says.
Since repaying her first £200 loan,
Mary has typically borrowed from
Scotcash either once or twice per
year – now applying online through
Scotcash’s website. She has always
made all her repayments on time:
“I’ve never had any late payments
or had any issues repaying. I like to
live and pay within my means.”
Her most recent loan which we
approved in February 2021 was
for £600. “I needed the money to
get some work done on my car,”
says Mary, “but after Christmas I
didn’t have enough saved. Without
my car I can’t get around or get
to work.” Not many other lenders
could have looked at Mary’s
circumstances and granted her an
affordable loan – but without it her
job would have been in jeopardy.
Mary says she turns to Scotcash
once or twice per year if she needs
a loan, because she likes the fact
we are a responsible lender:
“I know that if and when I need a
loan Scotcash is there, and I like
their approach. A couple of years
ago I applied for £800 and their
advisor went through everything
with me and worked out that £500
was, at the time, the maximum
amount they could lend me. They
take the time to ensure I can afford
the repayments – it’s much better,
and cheaper, than the alternatives I
could borrow from.”
*This is a real customer’s story but
we have changed her name.
Living with family or
friends - 12%
Owner-occupier - 3%
Housing associartion, credit union, bank
Mary* is 29 and lives with her young son in Glasgow. She earns
between £10,000 and £12,000 per year from her part-time job
working with people who have experienced homelessness
and addictions.
“I know that if and when I need a
loan Scotcash is there, and I like
their approach.”
4.2%
Page 13