Promoting Hi-Scot Credit Union

Highland Councillors are to become ambassadors of the financial co-operative which serves the Highlands and Islands - HI-Scot Credit Union - to promote the benefits of the member-led organisation through saving and borrowing money.

Members of the Finance, Housing and Resources Committee recognised that more can be done to encourage councillors and staff to join the Credit Union through improved internal communications and to more widely publicise the credit union in Service Points and libraries and through spreading the word in meetings with partner agencies.

Committee Chair Councillor Dave Fallows said:  “While we do not contribute towards the costs of the credit union, we are partners and support the aims of the member organisation.

“The benefits of being a member of a Credit Union are clear and convincing and I will be joining today.

“Our commitment is to promote the benefits both within our own significant workforce and through the wide network of community organisation we regularly speak to and work with. The credit union is for the community and it can benefit the community and we need to get that message across as widely as we can.”

Committee Vice-Chair Councillor David Alston said:  “We are partners in this enterprise and we need to up our game to inform people of the benefits of an excellent savings/borrowing scheme run for members.”

HI-Scot Chairman, Ian Morrison and Manager, David Mackay attended the Committee meeting to update members on the Credit Union.

Seven years after it first opened its doors, HI-Scot Credit Union has loaned more than £4 million to its members.

The Credit Union offers loans from £100 to £10,000 at competitive rates from as low as 9.38% APR and can be a more affordable source of credit than the traditional lenders in the Highlands and Islands.  At a time when affordable, reliable sources of credit can be difficult to obtain, HI-Scot is a genuine alternative.

For further information, the Credit Union can be contacted on 01851 701865.