Banks & Finance News
The number thirteen might be unlucky for some, but not HI-Scot credit union who are celebrating thirteen years of serving their members across the Highlands and Islands of Scotland. From humble beginnings as an idea conceived by hard-working volunteers determined to bring an ethical, community-minded option for saving and borrowing to the islands, Western Isles credit union (HI-Scot's original incarnation) opened its doors in 2006.
Employers can help their staff to save very easily by offering payroll deductions each month with a credit union. Credit unions are financial co-operatives owned and controlled by their members.
In October HI-Scot, the credit union for the Highlands and Islands, will take part in a worldwide celebration of credit unions. Thursday 17th October is International Credit Union Day 2019, a day which highlights the history and achievements of the movement, as well as raising the profile of the work of credit unions in local communities, reflected in this year's theme: 'Local Service, Global Reach.' "HI-Scot has been working across the Highlands and Islands for thirteen years and, in 2019, we have over three thousand members," said HI-Scot General Manager, David Mackay, "In that time we have approved over four thousand loans.
Savers with Virgin Money, Yorkshire Bank and Clydesdale Bank face changes to their compensation limits later this year. Clydesdale and Yorkshire Bank Group (CYBG) bought Virgin Money last year to create the UK's sixth largest bank.
MSP contacts TSB chief executive after closure and reduced hours released. MSP David Stewart has called for the UK Government to take action to stem the flow of bank closures and the pattern of reduced banking hours following the announcement that the TSB is to close a Moray branch and cut hours at other branches across the Highlands.
HI-Scot has been in existence since 2006, though up until 2010 was under the name of Western Isles Credit Union. The name was changed to HI-Scot to reflect that fact that we'd moved to a position of serving all of the Highlands & Islands, and indeed anyone who lives or works in this area can apply to join us.
Santander has today announced plans to reshape its branch network and close 140 branches in response to changes in how customers are choosing to carry out their banking. Santander's future branch network will be made up of a combination of larger branches offering improved community facilities to support local businesses and customers, and smaller branches using the latest technology to offer customers more convenient access to banking services.
Hi-Scot Credit Union has its Annual General Meeting on Wednesday 12th December 2018 at 4.00pm. The office of the credit union is based in Stornoway and due to the geography of Highland and Islands has moved more and more online.
Scottish Government Launches ‘people, Not Profit' Campaign To Support The Scottish Credit Unions Sector. The ‘People, Not Profit' credit unions campaign has been launched by Aileen Campbell, Cabinet Secretary for Communities and Local Government today (Wednesday 14 November 2018), as results of a new survey reveal that one in five (20%) people in Scotland have not heard of a credit union.
Individuals, businesses and community groups in and around 14 communities in the Highlands and Islands have an extra two weeks to take part in an online survey on rural banking services. Among other things, the survey asks about the importance of being able to withdraw and deposit cash locally, experiences of using Post Office and mobile banking services, and the perceived impacts of local branch closures.
Royal Bank is to close 62 Royal Bank of Scotland and 197 Nat West branches. The Wick branch is one on the list.
Hi-Scot Credit Union has been in business for over 10 years and initially started in the Western Isles expanding into the other areas of Highlands and Islands a few years ago. With an increasing membership now standing at over 2500 the group headed up by a small team of staff and a volunteer board of directors Hi-Scot Credit Union is going from strength to strength.
The agriculture sector in Scotland is showing signs of growth as famers successfully navigate uncertainties linked to currency fluctuations and future subsidies, analysis by Clydesdale Bank shows. The farming sector in Scotland saw a drop in Total Income from Farming from £775 million in 2014 to £653 million in 2015.
In September 2016 CYBG PLC, the parent company of Clydesdale Bank, announced that its branch network would be reducing as part of the Bank's strategy to create a truly integrated digital, mobile, telephone and branch service for its customers. Following last year's announcement, Clydesdale Bank has today confirmed that it will close 40 branches in 2017.
You don't want to save so you won't want to read this item about credit unions. It is easy to do now in Highland and Islands now that Hi-Scot credit union is online with its services for savers and borrowers.
In a report by Scottish Government published earlier in 2016 entitled "Scotland's Credit Unions - Investing in Our Future" The First Minister Nicola Sturgeon wrote a letter to employers as follows - Dear As First Minister of Scotland I am delighted to be able to offer this letter in support of the work of credit unions and at the same time encourage the uptake of payroll deduction schemes for employees with credit union accounts. Credit unions make an invaluable contribution to providing financial services and products to a wide range of customers.
Hi-Scot - A Credit Union for YOU. HI-Scot has been in existence since 2006, though up until 2010 was under the name of Western Isles Credit Union.
TSB has launched an exclusive credit card offer for people who have a TSB bank account. Helping people make more of their money, the bank is refunding the 1% balance transfer fee for customers taking out a new Platinum Purchase Credit Card.
TSB has improved mobile access for customers this week, by launching a new and improved mobile banking app for Android and Apple smartphones and tablets. The new app will make it quicker and easier for customers of TSB to carry out their day-to-day banking activity wherever and whenever is most convenient for them.
In the year since Bank of Scotland launched Everyday Offers, Bank of Scotland customers have benefitted by earning up to 15% cash back on their everyday spending at places including Argos, The Body Shop, Morrisons and O2, through the initiative. During the festive sales, it's not too late for savvy shoppers to make the most of their spending by selecting the participating merchants they want to activate for use on their next purchases.