As the world begins to hesitantly open up, it’s no surprise that the past two years have taught us the value of shopping local.
“A credit union is rooted in the community, especially as it is owned by its members and not external shareholders,” said David Mackay, General Manager of HI-Scot Credit Union.
“The co-operative set up of a credit union like HI-Scot means that members can benefit from affordable loans and flexible saving.”
HI-Scot is a community credit union, with every member living or working in the Highlands and Islands.
Established in 2006 as Western Isles Credit Union, the organisation has flourished over the past fifteen years, merging with Shetland Islands Credit Union and Highland Communities Credit Union to offer a trustworthy alternative to traditional High Street banks.
“HI-Scot is growing year-on-year.
“In January 2022 we reached the milestone of £12 million in member loans over the life of the credit union,” said David.
“That’s a lot of money staying in our communities, not to mention the new cars, washing machines, home improvements and other benefits which our loans bring to our members.”
And it’s not all about borrowing either – HI-Scot currently holds over £5 million in membership savings.
With a variety of savings options, members can choose to save a little or a lot.
The Christmas Saver account is popular, where members save throughout the year.
When Christmas Savings are paid out in November, there’s enough to keep Santa happy!
Another way to get into a good saving habit with HI-Scot in 2022 is to sign up to the unique Payroll Deduction scheme.
Working with several employers across the Highlands and Islands, members can save directly from their salary every pay day, and the credit union is always keen to sign up local businesses to the scheme.
New services are added regularly, and one of the many advantages of being member-owned is that HI-Scot can react to member needs, for example, adding phone loans in 2020 to make this service more accessible.
With 24-hour access to your account online and a mobile app in the offing for 2022, supporting your community credit union has never been easier.
And one thing is guaranteed – excellent customer service.
Added to which, the team at HI-Scot will never try to sell pricey financial products which members don’t need.
In fact, there are no transaction fees for saving and borrowing with HI-Scot, so you won’t find yourself out of pocket from unexpected charges.
More than ever, people are realising the value of community and, with a huge push on shopping local and supporting businesses where we live, isn’t it time to save and borrow local too?