Hi-scot Credit Union Taking Part In Worldwide Celebrations
1st October 2019
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. That's a lot of money benefiting people in our communities."
From their base in Stornoway, HI-Scot serves one of the largest geographical areas of any credit union in the UK. Membership is open to anyone living or working within the area. New members can join by visiting one of the network of local Access Points across the Highlands and Islands or using the secure online system at: Hi-Scot.com
As high street banks close branches throughout the Highlands and Islands, HI-Scot has seen steady growth in its membership. David Mackay explains the ways in which the credit union differs from traditional banks.
"HI-Scot - like credit unions across the world - is not run for profit," said David, “There are no sky-high charges or 'fat cat' bonuses. HI-Scot operates to benefit its members, whether you're saving for special occasion or borrowing with one of our competitively priced loans. We won't try to 'upsell' our products and don't have any hidden extras.”
HI-Scot operates under the Financial Services Compensation Scheme, which means that members' accounts are protected in the same way as at any high street bank.
On this year's International Credit Union Day, HI-Scot will join credit unions in 117 different countries (with a global membership over 260 million) in raising the profile of the unique way in which credit unions operate: established with a co-operative ethos, owned by their members and committed to providing accessible savings and loans to the communities they serve.
David Mackay said that International Credit Union Day this October offered people throughout the Highlands and Islands a unique opportunity. “It's a good chance to get in touch or look us up online and see for yourself what HI-Scot, your local credit union, can do for you.”
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.
"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.