SfL to set up training credit union scheme
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SKILLS FOR Logistics (SfL) is seeking to create a credit union, enabling hauliers to establish a self-sustaining funding pot for training and development needs.
SfL hopes the scheme will help tackle the looming driver shortage (CM 17 May) by allowing more people access to funding to meet the costs of obtaining an LGV driver’s licence.
Ross Maloney, director of intelligence and strategy at SfL, says: “The [most frequent] call we get into our office is people looking for LGV driver training funding.” SfL’s credit union would be not-for-profit, Financial Services Authority-approved and run by the Co-op. Members would contribute some form of capital, for example employees might have their wages paid in.
Profit could be accessed by members for any training or skills development they require. Employers could place their payroll costs through the credit union, or invest surplus working capital into it.