Save With Your Credit Union - Hi-Scot
5th August 2020
Hi-Scot Credit Union is a membership organisation covered by the Financial Services Authority who guarantee savings in credit unions.
It makes sense to save with us
Everyone benefits from regular saving, as it allows us to work towards our financial goals and gives peace-of-mind should an emergency arise. Committing yourself to a regular saving pattern can be difficult but at HI-Scot it's easy by either standing order or payroll deduction, and our members can save at an affordable level, be it £1 or £100.
Members can also request a dedicated payment card to make deposits to their accounts at any Post Office or PayPoint outlet, making saving even easier. Small regular amounts soon add up and remember that at HI-Scot you are not just another customer, but a co-owning member of an organisation which provides security and protection.
Withdrawing your savings at HI-Scot is also simple
The easiest way to withdraw your savings is via our online banking facility. We would encourage all our members to register for this service as you can also check your balances or download statements at any time.
We can arrange to transfer funds directly to your nominated bank account. Payments will be transferred between participating financial institutions by Faster Payment and provided you contact us by 3pm, your funds should be in your bank account by 4pm the same working day. We can't guarantee that all payments will be this fast, so you should check that the bank account you are sending money to receives Faster Payments. If you contact us after 3pm, your funds should be in your bank account by 4pm the following working day.
You must leave at least £1 in your savings account or the loan security amount of £250 if you have a Loyalty Loan.
A maximum of £250 cash can be withdrawn at our Stornoway office or we can issue you with a cheque.
Check it out at https://www.hi-scot.com/
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