HI-Scot takes to the road

Issued by Hi-Scot Credit Union

Hi-Scot Credit Union is celebrating its success having been selected from dozens of applications from across the UK to be awarded £42,000 from The Barclays Community Finance Fund to support its next step towards sustainability and growth.

HI-Scot credit union has been operating in the Highlands and Islands since 2010.  Credit unions are 'not-for-profit' financial co-operatives, run by their members for the benefit of their members and the community where they operate. They are regulated by the Financial Services Authority meaning members’ savings are protected.

The funding will support the purchase of a camper van which will become a familiar sight at community events, places of work, and at markets and fairs throughout the Highlands with the aim of increasing its membership by 100%.     

David Mackay, Manager at HI-Scot Credit Union, said: “I am delighted that our application has been successful and Barclays have agreed to fund the purchase of a camper van. This will significantly raise our profile and help us reach out to many more people across the Highlands & Islands.”

David Steer, Regional Director for UK Retail Banking at Barclays in Scotland, commented: “The applications this year were of a particularly high standard with many innovative and interesting project ideas, which made it extremely difficult to shortlist them down to those we could fund.  This is a great opportunity for HI-Scot Credit Union to use the funding to support its next steps towards increasing membership, sustainability and growth. We hope that the experience they gain this year will provide important knowledge that can be shared by the sector.”

Projects are funded over 12 months to develop and continue work to increase access to affordable credit.

With a philosophy of mutual self-help, credit unions are ethical businesses controlled by their members for the benefit of their members.

The Credit Union expect the Camper van to travel throughout The Western Isles and the Orkney Islands as well as much of Caithness, Sutherland, Easter Ross and Inverness by the end of 2013 with the rest of the Highlands & Islands covered in early 2014.

For further Information please do not hesitate to contact HI-Scot on 01851 701865 or browse our website at www.hi-scot.com.