Hi-Scot Credit Union Annual General Meeting - Extension Meeting In Wick
10th December 2018
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.
This year for the first time the AGM wlll be connected to Wick to allow any local members to attend. In Wick the meeting will join from Pulteney Centre.
AGM's do not usually last long and it is anticipated to last around 15 minutes. It is also chance to come along and ask questions or to find out more about joining.
Growth over the last financial year has been strong by any measure — record member numbers, record deposits and record lending. This has only been possible thanks to our staff, and the support of the volunteers who assist the work of the credit union. What the credit union does — savings and loans — looks fairly straightforward. However, to make this happen and to maintain business viability takes a dedicated team and I would like to thank each one of them for their commitment and professionalism over the last 12 months.
Membership has increased to around 3000 members.
Hi-Scot now has £3.7m of members savings with £1.9m of this on loan to fellow members.
Hi-Scot has merged with Shetland Islands Credit Union a few months ago.
Last 12 months
• £1.4 million in loan applications
• £1.1 million in loan approvals
• £2.2 million in member deposits
• 34,000 member transactions
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.
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.
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.
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.
If your business would like to support employees in building a regular saving habit, call HI-Scot 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.
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.
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.
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.
COVID-19 (coronavirus) information. We're here to help We're here to support you in a number of different ways.