Caithness Map :: Links to Site Map Great value Unlimited Broadband from an award winning provider  

 

Saving In The Time of Pandemic - Check Out The Credit Union

18th September 2020

Photograph of Saving In The Time of Pandemic - Check Out The Credit Union

2020 has not been the easiest of years and, for many people, saving has been the last thing on their minds - but there's never been a more prudent time to think about putting money aside for a rainy day. Or a global pandemic.

"Saving with a credit union is very straightforward," said HI-Scot credit union General Manager, David Mackay, "And with options like payroll deduction, where you decide how much to save and this is deducted directly from your salary every pay day, our members can start saving today."

HI-Scot has over 3200 members and, with no external shareholders, the credit union is building a strong financial community across the Highlands and Islands. The credit union offers a range of savings and loans to members and operates under the Financial Services Compensation Scheme, so members' accounts are fully protected.

"We offer our members, who all live and work in the Highlands and Islands, services that suit their needs." David explained, "For example, we recently introduced phone loans, which makes accessing our affordable loans a whole lot easier. At HI-Scot, we take each member's circumstances into consideration, whether they want to save or borrow - or do both."

The summer of 2020 brought some positive news for HI-Scot as the credit union reached the significant milestone of issuing £10 million in loans since opening in 2006.

"That £10 million has allowed our members to buy cars, make improvements to their homes and has supported them in countless other ways to access affordable credit." said David, “That's a lot of people getting to work or keeping their home in good condition thanks to a HI-Scot loan.”

To find out more about saving and borrowing with HI-Scot credit union, have a look at their website: www.hi-scot.com

 

Related Businesses

 

Related Articles

20/6/2021
Credit Unions Are Growing In The UK But Still A Long Way To Catch Up With USA
The history of credit unions in USA has been one of growth over many years.   The public in many states seem to have moved in greater numbers and saved even more with their local credit union.  
23/5/2021
World Council Launches The Global Credit Union PodcastThumbnail for article : World Council Launches The Global Credit Union Podcast
World Council of Credit Unions is excited to launch a new monthly podcast that will provide the international credit union community with an in-depth look at some of the interesting and important stories it has to tell, particularly in the areas of international advocacy, international projects, education and networking, and digital transformation.   The Global Credit Union Podcast will also be telling stories about the work credit unions across the world are doing on behalf of their members.  
30/4/2021
UK Credit Unions Has Reached Its Highest Reported Value At £3.98 BillionThumbnail for article : UK Credit Unions Has Reached Its Highest Reported Value At £3.98 Billion
The latest quarterly report by the Bank of England shows UK Credit Unions continue to increase in strength.   The report published on 30 April 2021 showed - Adult membership of credit unions increased in 2020 Q4 after decreasing in 2020 Q3.  
30/4/2021
New Partnership Supports International Credit Union Community
This new project aims to share research and resources with credit unions in the UK and Ireland.   Filene Research Institute announced an exclusive partnership with the Dublin, Ireland-based CMutual to expand research and resources available to credit unions in the United Kingdom and Ireland.  
24/2/2021
Launch Of £15 Million Scottish Community Lenders Fund
A new £15 million fund has been announced to support affordable lending services.   It will support Credit Unions and Community Development Financial Institutions (CDFIs) which offer financial help to those who have poor credit and are often turned away from high street banks.  
15/10/2020
International Credit Union Day - Join Hi-Scot Credit UnionThumbnail for article : International Credit Union Day - Join Hi-Scot Credit Union
International Credit Union (ICU) Day celebrates the spirit of the global credit union movement.  The day is recognized to reflect upon the credit union movement's history, promote its achievements, recognize hard work and share member experiences.  
27/9/2020
Employers Can Help Workers Save With Payroll DeductionThumbnail for article : Employers Can Help Workers Save With Payroll Deduction
If your business would like to support employees in building a regular saving habit, call HI-Scot Credit Union..  
20/8/2020
Over 1000 Cars Bought By Hi-Scot Credit Union LoansThumbnail for article : Over 1000 Cars Bought By Hi-Scot Credit Union Loans
A Hi-Scot credit union loan is now easier than ever to arrange for members.   Cars are a popular reason to borrow but loans can be arranged for a wide range of things.  
5/8/2020
Get A Loan With Your Credit Union - Hi-ScotThumbnail for article : Get A Loan With Your Credit Union - Hi-Scot
Hi-Scot Credit Union covers the Highland and Islands and is membership organisation covered by the Financlal Services Authority Directors are elected each year and are unpaid volunteers with professional staff running the day to day business.  Online banking has recently become available for members.  
5/8/2020
Save With Your Credit Union - Hi-ScotThumbnail for article : Save With Your Credit Union - Hi-Scot
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.