Summer 2020 has been a landmark moment for HI-Scot credit union based in Stornoway – as the credit union reached the significant milestone of issuing £10 million in loans since opening in 2006.
And they are reminding folk…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 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 more than 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