HI-Scot Credit Union reaches milestone of £10m in loans

15/01/2024

The summer of 2020 brought some positive news for HI-Scot Credit Union as it 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 by providing access affordable credit.” said General Manager, David Mackay, “That’s a lot of people getting to work or keeping their home in good condition thanks to a HI-Scot loan.” 

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. 

“Saving with a credit union is very straightforward,” said David, “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 3,200 members and, with no external shareholders, the Credit Union is building a strong financial community across the Highlands and Islands. 

“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.” 

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