Banks & Finance News
COVID-19 (coronavirus) information. We're here to help We're here to support you in a number of different ways.
"As we enter our fourteenth year of business, we'll be spreading the word about the benefits of saving with the credit union," said HI-Scot's General Manager, David Mackay. "HI-Scot is member led and member run and we offer a range of services." HI-Scot is well established in the Western Isles, where the credit union is based.
In 2020, HI-Scot credit union's focus is on making saving and borrowing easier for our members, particularly through the use of payroll deduction with businesses across the Highlands and Islands. Thousands of employees already have access to payroll deduction with HI-Scot, something the credit union wants to build on in the coming year, promoting the service to employees who work with existing partners and showing other businesses the benefits of offering payroll deduction to their staff.
HI-Scot, the credit union for the Highlands and Islands, has vowed to make 2020 the year when saving and borrowing are even more accessible. With a focus on payroll deduction, allowing people to save directly from their pay packet every month via their employer, the credit union offers a viable alternative to high street banking in 2020.
Royal Bank of Scotland prevents over £11.64million of fraud in run up to Christmas (29 Nov to 19 Dec 2019). A record-breaking number of transactions are being processed in the run up to Christmas as shoppers rush to finish last minute shopping.
As 2019 draws to an end, the staff and volunteers at HI-Scot credit union are reflecting on a successful year for the organisation. "We are pleased to report that 2019 was another twelve months of growth for HI-Scot," said Margaret Ann MacLeod, Chair of the Board of Directors, "This is good news not only for the credit union, but for our members and the communities we serve across the Highlands and Islands." At the recent HI-Scot AGM, the members attending approved a 0.5% dividend.
Christmas came early across the Highlands and Islands for members of HI-Scot credit union. Canny savers received their Christmas savings in November, leaving plenty of time to get their Christmas shopping done.
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.